Delhi Retailer Wins ITAT Case Over Rs 2.47 Crore Cash Deposit
Mr. Kumar from Rohini, Delhi, runs a pharmaceutical retail business. During demonetisation in November 2016, he deposited Rs 2.47 crore in cash across three Oriental Bank of Commerce accounts, representing family savings and cash sales. Despite submitting audited accounts, VAT returns, and invoices, the Income Tax Department questioned the deposits. The Assessing Officer and Commissioner of Appeals initially rejected his explanation, but Kumar ultimately won the case at the ITAT.
Economic Times·3h ago·Delhi




