https://www.taxtmi.com/caselaws?id=776477 The ITAT Rajkot allowed the appeal by deleting the addition of Rs. 2,50,000/- made by the AO on cash deposited during the demonetization period. The tribunal held that the amount falls within the exempted slab limit under the Income Tax Act and CBDT Instruction No. 3/2017, which grants a blanket exemption of Rs. 2,50,000/- per person. The decision relied on precedent from ITAT Surat, confirming that such deposits up to the specified limit are not chargeable to tax. en-us Mon, 06 Jan 2025 00:00:00 +0530 Tue, 12 Aug 2025 08:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776477 The ITAT Rajkot allowed the appeal by deleting the addition of Rs. 2,50,000/- made by the AO on cash deposited during the demonetization period. The tribunal held that the amount falls within the exempted slab limit under the Income Tax Act and CBDT Instruction No. 3/2017, which grants a blanket exemption of Rs. 2,50,000/- per person. The decision relied on precedent from ITAT Surat, confirming that such deposits up to the specified limit are not chargeable to tax. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776477