Demonetisation Cash Deposits Taxed at 8% on Estimated Basis

Outlook Fashion Vs ITO (ITAT Delhi) Demonetisation Cash Deposits Get 8% Estimation; 115BBE Held Inapplicable Pre-01.04.2017 The Delhi ITAT (SMC), in Outlook Fashions v. ITO (ITA No. 7782/Del/2025, AY 2017-18; order dated 24.12.2025), has partly allowed the Assessee’s appeal by scaling down the addition on demonetisation cash deposits and excluding the harsh application of section 115BBE. The Assessee, engaged in manufacturing and trading of textiles, had deposited ₹24.73 lakh in cash during the demonetisation period. The AO treated the entire amount as unexplained cash u/s 69A and taxed it...