ITAT Delhi Deletes Addition on Demonetization Cash Deposits for Past Savings

Anandi Vs ITO (ITAT Delhi)

Factual Background and Addition

The Assessee, an individual who is a retired government servant, filed her Return of Income declaring a total income of . Her case was selected for scrutiny due to a large value of cash deposited in SBN during the demonetisation period, which was substantial compared to her declared income. The total cash deposited was .

After considering the Assessee’s submissions, the AO accepted a deposit of as genuine but deemed the remaining as unexplained money. Consequently, the A

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