Redeposited Cash Cannot Be Treated as Unexplained: ITAT Delhi Deletes Addition

Advertisement Sunil Kumar Vij Vs ITO (ITAT Delhi) Cash Deposits During Demonetization Explained by Prior Withdrawals – ITAT Deletes Addition u/s 69A Delhi ITAT has held that where an Assessee substantiates cash deposits during the demonetization period with sufficient prior withdrawals, such deposits cannot be treated as unexplained u/s 69A. Assessee, a retired Railway employee, filed his return declaring income from pension, savings bank interest & arrear salary. During assessment, AO noticed cash deposits of ₹15.35 lakh during demonetization in Assessee’s bank account with India...