Legal Heir Gets New Hearing: ITAT Remands Demonetisation Cash Deposit Case

Samir Kumar Paikaray Vs ITO (ITAT Kolkata) ITAT Remands Cash Credit Case: Opportunity Must Be Given to Legal Heir for Evidence; Demonetisation Tax Dispute: Assessment Remanded Due to Assessee’s Death; Legal Heir Gets a Fresh Chance” – ITAT Cuttack Remands Demonetisation Cash Case for Re-Examination The late assessee, proprietor of Paikaray Filling Station, had deposited ₹2.90 crore in cash during demonetisation, claiming the source as petrol-pump sales & recovery from debtors. AO disbelieved the explanation, treated ₹57.24 lakh as unexplained cash credits u/s 68, added ₹5....