Addition of Cash Deposits During Demonetization: ITAT Quashes Addition Based on Tuition Income and Marriage Gifts [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) quashed the addition of ₹10,09,750 made under Section 69A of Income Tax Act,1961, for cash deposits during the demonetization period, ruling that the deposits were supported by the assessee’s regular tuition income and marriage gifts. Hitesh Jaysingbhai Purohit,appellant-assessee,filed his income tax return on August 3, 2017, declaring…