Cash Deposits Not Unexplained Due to Proven Sale Consideration: ITAT Deletes Addition

Umamaheswari Vs ITO (ITAT Chennai) The case before the Income Tax Appellate Tribunal (ITAT), Chennai, concerned an appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, dated 06.06.2022 for Assessment Year 2017–18. The dispute arose from an addition of ₹7,67,500 made by the Assessing Officer under Section 69A of the Income Tax Act, treating certain cash deposits during the demonetization period as unexplained money. The assessee had filed her return of income declaring total income of ₹4,37,090 and agricultural income...