https://www.taxtmi.com/caselaws?id=464316 ITAT SURAT - AT partly allowed the appeal, directing AO to restrict addition to 20% of total cash deposits made during demonetisation, noting assessee filed agricultural income accepted by CIT(A) and AO failed to investigate or make specific findings while assessee did not fully prove source of cash. Tribunal held an ad hoc 20% disallowance reasonable to prevent revenue leakage. Tribunal also held enhanced tax rate under s.115BBE inapplicable for AY 2017-18 based on tribunal precedents. All other grounds of appeal were dismissed. en-us Mon, 04 Nov 2024 00:00:00 +0530 Fri, 17 Oct 2025 12:49:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464316 ITAT SURAT - AT partly allowed the appeal, directing AO to restrict addition to 20% of total cash deposits made during demonetisation, noting assessee filed agricultural income accepted by CIT(A) and AO failed to investigate or make specific findings while assessee did not fully prove source of cash. Tribunal held an ad hoc 20% disallowance reasonable to prevent revenue leakage. Tribunal also held enhanced tax rate under s.115BBE inapplicable for AY 2017-18 based on tribunal precedents. All other grounds of appeal were dismissed. Case-Laws Income Tax Mon, 04 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464316