Old Cash Withdrawal Claim Rejected for Demonetisation Deposits

Hasmukh Ramanlal Patel Vs ITO (ITAT Ahmedabad) Old Cash Story Rejected Again: ITAT Upholds ₹15.26 Lakh Demonetisation Deposit Addition ITAT Ahmedabad “SMC” Bench, in Hasmukh Ramanlal Patel vs ITO (ITA No.745/Ahd/2025, AY 2017-18; order dated 24.12.2025), has dismissed the assessee’s appeal and confirmed addition of ₹15.26 lakh as unexplained cash deposits made during the demonetisation period. The assessee had deposited ₹15.26 lakh in November 2016 and claimed that the amount represented old cash withdrawn in March 2016 (₹7 lakh on 22.03.2016 and ₹8.16 lakh on 29.03.2016) out o...