Depression & Father’s Death Lead ITAT to Grant Relief; ₹4.16Cr Demonetization Case Sent Back for Fresh Assessment

The Income Tax Appellate Tribunal (ITAT) has granted relief in a demonetization-related case involving a cash deposit of Rs 4.16 crore, remanding it for a fresh assessment. The tribunal took a compassionate view, considering the assessee's state of depression following their father's recent death, which was cited as the reason for their inability to effectively represent their case before the lower authorities. The ITAT acknowledged that these severe personal circumstances could have impacted the assessee's ability to comply with the proceedings and provide necessary explanations. By setting aside the previous order and sending the case back for a new hearing, the tribunal has ensured that the taxpayer gets a fair opportunity to present their case and evidence regarding the source of the cash deposits. This highlights the tribunal's willingness to consider genuine personal hardship while delivering justice.