Medical Treatment withdrawals Earlier: ITAT Deletes Cash Deposit Addition

Suresh Surindersing Yadav Vs ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has provided relief to assessee Suresh Surindersing Yadav by deleting an addition of ₹29,24,571 made to his income on account of unexplained cash deposits. The case pertains to the Assessment Year (A.Y.) 2017-18, a period that notably included the demonetization drive. The ITAT’s decision hinged on the assessee’s explanation that the cash deposits originated from prior withdrawals from the same bank accounts, maintained for medical emergencies. The genesis of the dispute lies in the...