https://www.taxtmi.com/caselaws?id=422571 The appeal was allowed in favor of the assessee as the ITAT member held that the addition of cash deposit during demonetization made by the Assessing Officer and confirmed by the CIT (Appeals) was not sustainable. The decision emphasized that no further verification is required for individuals earning income from salary who deposited cash within a specified limit as per CBDT Instructions. The judgment highlighted the binding nature of CBDT Instructions on income tax authorities and supported the appellant's explanation of the source of cash deposits based on relevant tribunal decisions. en-us Wed, 11 May 2022 00:00:00 +0530 Wed, 18 May 2022 08:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422571 The appeal was allowed in favor of the assessee as the ITAT member held that the addition of cash deposit during demonetization made by the Assessing Officer and confirmed by the CIT (Appeals) was not sustainable. The decision emphasized that no further verification is required for individuals earning income from salary who deposited cash within a specified limit as per CBDT Instructions. The judgment highlighted the binding nature of CBDT Instructions on income tax authorities and supported the appellant's explanation of the source of cash deposits based on relevant tribunal decisions. Case-Laws Income Tax Wed, 11 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422571