ITAT Grants Major Relief: Demonetization Cash Deposits Treated as Genuine Sales, Not Unexplained Income
ITAT Overturns 58.5L Cash Deposit Addition Made During Demonetization In a notable judgment providing relief to businesses scrutinized during the demonetization period, the Income Tax Appellate Tribunal (ITAT) has deleted an addition of Rs. 58.5 lakh made under Section 69A of the Income Tax Act, 1961. Background …