No prohibition in law on deposit of cash in piece-meals during demonetization

Tilak Raj Anand Vs ITO (ITAT Delhi)

Assessing Officer issued a show cause to explain the cash deposit of Rs. 9,00,000/- in specified bank notes in the bank account during the demonetization. The contention of the assessee before the authorities below was that all the relevant documents in the nature of ledger, cash book, sales, purchases, cash flow were filed and no objection was raised by the Assessing Authority.

It was further contended that the assessee accepted the source of deposit of

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