Old currency notes receipt for booking of railway tickets allowed during demonetization

Jitendra Nemichand Gupta Vs ITO (ITAT Surat) ITAT Surat held that addition towards cash deposited during demonetization period unwarranted as booking of railway tickets were allowed by way of old currency notes. Here, cash were received from various travelers for booking of railway tickets. Facts- The case of the assessee was selected for security for the reasons that “large value cash deposit during the year”. During the assessment, AO noted that the assessee has deposited substantial amount of cash of Rs. 1.14 crore in his bank account, out of which amount of Rs. 13,57,110/- during demon...