ITAT Restores Demonetisation Cash Deposit Issue for Fresh Hearing on Evidence

Aryavysya Seva Sangham Vs ITO (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT) Hyderabad heard an appeal filed by Aryavysya Seva Sangham against the order of the Commissioner of Income Tax (Appeals) – National Faceless Appeal Centre (CIT(A)-NFAC) Delhi, concerning the Assessment Year 2017-18. The core issue revolved around the addition of Rs. 33,34,200 as unexplained money under Section 69A of the Income Tax Act, 1961, by the Assessing Officer (AO). This addition stemmed from substantial cash deposits amounting to Rs. 40,43,330 made by the assessee, an Association of Persons (AO...