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Informative

Cash Deposits during demonetization: ITAT remands matter to consider Evidence

Update / Judgement Date

10 Apr 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against OrderIncome Tax

The ITAT (Income Tax Appellate Tribunal) remanded a matter related to cash deposits made during demonetization for reconsideration of evidence. The tribunal found that the Assessing Officer (AO) had not adequately considered all the evidence presented by the assessee to explain the source of the cash deposits made during the demonetization period. The remand directs the AO to conduct a more thorough examination of the submitted evidence.