ITAT upheld Addition for cash deposited in bank during demonetization period for failure to explain Source

Leela Devi Vs ITO (ITAT Delhi)

It is not in dispute that assessee made cash deposit of Rs. 15 lakhs in her bank account during demonetization period. The assessment year under appeal is 2017-18 and the assessee deliberately filed the return of income belatedly on 25.03.2018. The assessee explained before AO the source of the cash deposit in the bank account was life time savings and cash withdrawn from the bank in earlier years for personal security and other household expenditures. However, assessee has not filed any furthe

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