No section 69 addition for cash received for House Rent & Agricultural Land deposited during Demonetization

Sri Narsimha Reddy Pindi Vs ITO (ITAT Hyderabad) Introduction: Dive into the recent decision by ITAT Hyderabad in the case of Sri Narsimha Reddy Pindi vs ITO, where the Assessing Officer questioned a cash deposit during demonetization. The case revolves around the assessee’s ability to substantiate the source of the deposit, involving rental and agricultural income. Detailed Analysis: Sri Narsimha Reddy Pindi, an individual deriving income from house property and agriculture, faced scrutiny over a cash deposit of Rs.4,04,500/- during demonetization. The Assessing Officer questioned the s...