ITAT Remands Demonetization Cash Deposit Addition Case

Jyoti Santosh Parakh Vs ITO (ITAT Pune) Income Tax Appellate Tribunal (ITAT), Pune bench, has set aside an order from the National Faceless Appeal Centre (NFAC) and remitted the tax appeal of Smt. Jyoti Santosh Parakh back for a fresh hearing. The case involves cash deposits made during the 2016 demonetization period, and the Tribunal’s decision on February 6, 2025, highlighted deficiencies in the NFAC’s earlier order, particularly its failure to provide reasons for its conclusion. The dispute relates to the Assessment Year 2017-18, which covers the period when the Indian governmen...