ITAT Delhi Partly Deletes Demonetisation Cash Deposit Addition for Lack of Proper Inquiry

Niraj Kumar Singh Vs ITO (ITAT Delhi) Demonetisation Cash Deposit — ITAT Grants Major Relief; Only ₹2.59 Lakh Sustained The assessee had deposited ₹11,59,000 in cash during the demonetisation period, which the AO treated as unexplained money under Section 69A. The assessee claimed that the deposits came from earlier ATM withdrawals and an HDFC bank loan sanctioned just before demonetisation, but the explanation was not fully supported with clear evidence. The CIT(A) upheld the entire addition. Before the ITAT, the assessee remained unrepresented. The Tribunal noted that the assessee’s ...