ITAT Deletes Addition of Cash Deposit during Demonetization as Source submitted

Mahendra Kumar Parakh Vs ITO  (ITAT Kolkata) The sole issue in the present appeal is in respect of cash deposit made during the demonetization period and it is an undisputed fact that the assessee has deposited a sum of Rs. 2,50,000/- only in cash in his bank account during such period and the ld. AO treated the entire amount as unexplained in the hands of assessee. The matter of the assessee when it was carried before the ld. CIT(A), the ld. CIT(A) granted partial relief to the assessee to the tune of Rs. 25,763/- and upheld the addition to the extent of Rs. 2,50,000/-. By stating that cash ...