Held that in view of CBDT Instruction No. 3 of 2017, dt. 21st Feb., 2017, addition under s. 69 is not sustainable in respect of the cash deposit made by the assessee, aged 89 years, to the extent of Rs. 5 lakhs; assessee having duly explained the source of the remaining cash deposits in her bank account on the basis of earlier withdrawals of cash which were held by her on the date of declaration of demonetization, no addition under s. 69 is sustainable. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69A: Unexplained money-Cash deposits in bank account-Demonetization period-Assessee, aged 89 years-Addition cannot be sustained to the extent of Rs. 5 lakhs in view of CBDT Instruction No. 3 of 2017, dt. 21st Feb., 2017-Source of the remaining amount of Rs. 5 lakhs has been duly explained by the assessee on the basis of said bank statements-Addition was deleted. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61706","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g3g","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=61706"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61706\/revisions"}],"predecessor-version":[{"id":61707,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61706\/revisions\/61707"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}