Delhi Pharma Businessman Wins ITAT Case on Demonetisation Cash Deposit

During demonetisation, a pharma businessman from Rohini, Delhi, deposited ₹2.47 crore in bank accounts. The Income Tax Department treated the entire amount as unexplained cash and levied tax. The businessman submitted documents proving the money came from sales, savings, and family. The case reached the ITAT, which found no concrete irregularities and cancelled the tax addition by the department.

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