Section 69A: Cash Deposits during Demonetization not Taxable if Source Explained

Amikrupa Education Trust Vs ITO (ITAT Ahmedabad)

Introduction: In a significant judgment by the Ahmedabad Income Tax Appellate Tribunal (ITAT), the case of Amikrupa Education Trust Vs Income Tax Officer (ITO) has set a notable precedent concerning cash deposits made during the demonetization period in India. The ITAT’s decision, dated 24-01-2024, revolves around the challenge against the order by the National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2017-18, which involved an addit

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