AO Fails to Apply CBDT Instructions regarding Cash Deposits During Demonetization: ITAT Remands for Re-Examination

The ITAT remanded a case where the Assessing Officer (AO) did not follow Central Board of Direct Taxes (CBDT) guidelines related to cash deposits made during demonetization. The AO had failed to properly assess the taxpayer's explanations, resulting in an unjust order. The tribunal sent the case back for re-examination, emphasizing the necessity for AOs to adhere to CBDT instructions while assessing demonetization-related cases to ensure fair treatment for taxpayers.