Cash Deposited During Demonetisation Cannot Be Taxed Under Section 69A if Linked to Business, Holds ITAT :
The ITAT held that cash deposited during demonetisation was part of the assessee's business turnover and directed the AO to estimate income at a 6% net profit rate.
ITAT Deletes Rs 11.72 Lakh Demonetisation Addition
Saloni Kumari
Jul 26, 2026Premium
Cash Deposited During Demonetisation Cannot Be Taxed Under Section 69A if Linked to Business, Holds ITAT
The ITAT held that cash deposited during demonetisation was part of the assessee's business turnover and directed the AO to estimate income at a 6% net profit rate.
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Saloni Kumari
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Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
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