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ITAT Rajkot Deletes Unexplained Cash Addition for Senior Citizen Citing CBDT Limit
Case Law Details
- Case Name
- Savitaben Nathalal Vadi Vs ITO (ITAT Rajkot)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Rajkot
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Savitaben Nathalal Vadi Vs ITO (ITAT Rajkot)
The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, in the case of Savitaben Nathalal Vadi Vs ITO, has allowed the appeal of a 70-year-old assessee, deleting an addition of Rs.2,50,000/− that was made by the Assessing Officer (AO) under Section 69A of the Income Tax Act, 1961. The addition was based on a cash deposit made during the demonetization period, but the Tribunal ruled that the amount fell within the non-taxable limit specified by the CBDT (Central Board of Direct Taxes) for small depositors.
Condonation of Delay
Before addressing the...
