https://www.taxtmi.com/caselaws?id=777864 ITAT CHENNAI - AT allowed the appeal, holding that cash deposits made during the demonetization period were legitimately traced to earlier capital gains from sale of properties which had been reported in prior ITRs. The AO's characterization of the deposits as undisclosed income was rejected given the assessee's credible explanation-retention of sale proceeds after becoming a widow and later depositing them post-demonetization-and absence of any other income source. The deposits were accepted as disclosed capital gains. en-us Wed, 15 Jan 2025 00:00:00 +0530 Sat, 06 Sep 2025 08:16:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777864 ITAT CHENNAI - AT allowed the appeal, holding that cash deposits made during the demonetization period were legitimately traced to earlier capital gains from sale of properties which had been reported in prior ITRs. The AO's characterization of the deposits as undisclosed income was rejected given the assessee's credible explanation-retention of sale proceeds after becoming a widow and later depositing them post-demonetization-and absence of any other income source. The deposits were accepted as disclosed capital gains. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777864