ITAT upheld addition for Cash deposited during demonetization out of alleged tuition income

Smt. Sonal Kumari Vs ITO (ITAT Chennai) The only issue in this appeal of assessee is as regards to the order of CIT(A) confirming the action of AO in adding the cash deposited during demonetization period in assessee’s savings bank account maintained with Punjab National Bank between 15.11.2016 to 05.12.2016 amounting to Rs.7.68 lakhs. The AO noted that the assessee has admitted income only to Rs.2,42,540/- during the financial year relevant to this assessment year 2017-18 and hence, giving credit for the same, the AO assessed the balance cash deposit of Rs.5,25,460/- as unexplained investme...