ITAT Deletes Addition for Cash Deposits During Demonetization from Proven Sources

Karansinh Patel Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad Deletes Additions on Demonetisation Cash Deposits — Retirement Benefits & Loan Repayment Held Genuine

Assessee, a retired government employee, appealed against CIT(A)’s order partly confirming addition u/s 69A towards unexplained credits & cash deposits totaling ₹31,90,289/-. AO had made a total addition of ₹50,94,553/- for unexplained deposits during the demonetisation period.

It was explained that the deposits came from legitimate sources such as gratuity, leave

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