Unexplained Cash Deposit During Demonetization: ITAT Directs AO to Decide using CBDT Circular

Regarding unexplained cash deposits during demonetization, the ITAT directed the AO to decide the matter using the CBDT circular. The circular provides guidelines for dealing with such deposits. The ITAT's direction ensures consistency in tax assessments and promotes fair treatment of taxpayers. This ruling highlights the importance of adhering to established guidelines and circulars in tax proceedings, ensuring transparency and predictability in tax administration.