Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Senior Citizen’s Demonetization ₹10.46L Deposits Explained as Prior Withdrawals: ITAT Sets Aside Cash Deposit Addition u/s 69A
Income TaxOther Legal Matters
The ITAT has set aside a "cash deposit addition under Section 69A," ruling that a "senior citizen's demonetization ₹10.46 lakh deposit" was "explained as prior withdrawals." The tribunal's decision provides a significant victory for the taxpayer. The ruling clarifies that a tax authority cannot add an income to a taxpayer's account if there is a valid reason.
