https://www.taxtmi.com/caselaws?id=419089 The Tribunal allowed the appeal of the assessee, concluding that the addition of Rs. 2.40 Lacs under section 69A of the Income Tax Act was not justified. Relying on a CBDT circular exempting certain cash deposits during demonetization, the Tribunal emphasized the binding nature of CBDT instructions and overturned the dismissal of the appeal by the Ld. CIT(A). The decision favored the assessee, highlighting the significance of legal interpretations in determining tax treatment of cash deposits during specific periods like demonetization. en-us Fri, 18 Feb 2022 00:00:00 +0530 Mon, 08 Aug 2022 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419089 The Tribunal allowed the appeal of the assessee, concluding that the addition of Rs. 2.40 Lacs under section 69A of the Income Tax Act was not justified. Relying on a CBDT circular exempting certain cash deposits during demonetization, the Tribunal emphasized the binding nature of CBDT instructions and overturned the dismissal of the appeal by the Ld. CIT(A). The decision favored the assessee, highlighting the significance of legal interpretations in determining tax treatment of cash deposits during specific periods like demonetization. Case-Laws Income Tax Fri, 18 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419089