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Informative

Cash Deposit during Demonetization: ITAT partly deletes Rs. 3.5 lakh Addition based on CBDT Guidelines

Update / Judgement Date

23 Mar 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

ITAT has addressed cash deposits during demonetization, citing CBDT guidelines. This decision clarifies the tax treatment of cash deposits during the demonetization period. The ruling emphasizes the importance of adhering to regulatory guidelines. This judgment provides clarity on tax compliance. The ruling underscores the need for legal compliance.