Production of Proof for Cash deposit during Demonetization: ITAT deletes Addition [Read Order]

Production - Proof - Cash deposit - deposit - Demonetization - Cash - taxscan

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ), Chennai bench has deleted the addition on the basis of production of proof for cash deposit in the bank account during demonetization period. In the instant case the assessing officer while verifying the return filed by assessee, Mrs.Umamaheswari, found unexplained cash deposit of…

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