Agriculturist Claims Pre-Demonetization Cash Deposits: ITAT Remands Ex-Parte Assessment for Verification of Claim

The Income Tax Appellate Tribunal (ITAT) remanded an ex-parte assessment for verification of a claim related to pre-demonetization cash deposits by an agriculturist. The taxpayer had claimed that the cash deposits were from agricultural income, but the assessment was done without considering the evidence. The ITAT directed the Assessing Officer (AO) to verify the claim and conduct a fresh assessment. This ruling underscores the need for proper verification of claims and the importance of considering all relevant evidence in tax assessments.