Case Law Analysis
|Income Tax Appellate Tribunal
Section 68 Income Tax Act | Proportionate Addition Required for Demonetization Cash Deposits, Not Lumpsum Assessment : ITAT Dehradun
The ITAT Dehradun ruled that cash deposits during demonetization cannot be treated as unexplained income through mechanical lumpsum additions, even when the assessee fails to fully discharge its burden of proof. A reduced addition of Rs. 3 lakh was upheld as fair, setting a precedent for nuanced, fact-sensitive application of Section 68 in unorganized sector businesses.