Demonetisation Cash Deposit Relief: ITAT Restricts Addition to 5% Estimated Profit

Bhanu Pratap Gohel Vs ITO (ITAT Rajkot)

ITAT Gives Major Relief in Demonetisation Cash Deposit Case – Only 5% Estimated Profit Taxable, Section 115BBE Not Applicable

Assessee deposited ₹13.50 lakh in cash during demonetisation (Nov–Dec 2016). She explained that the funds came from earlier bank withdrawals, supported by cash books, bank statements, Hathu account & affidavit citing old age/medical needs. AO ignored these documents & added the Please become a Premium member. If you are already a Premium member, login here to access the full content.