New Delhi, Sept. 30 -- A Delhi-based pharmaceutical retailer who deposited Rs.2.47 crore in cash during demonetisation has recently secured relief from the Income Tax Appellate Tribunal (ITAT), Delhi.

In this case, the tribunal deleted additions made by the tax authorities after finding that the taxpayer had provided documentary evidence supporting the primary source of the deposits.

The case primarily concerns Rakesh Kumar, a resident of Rohini, who deposited Rs.2,47,91,057 across three savings accounts with Oriental Bank of Commerce during FY2016-17. This case was decided by the ITAT on July 7, 2026, as detailed in a report by Upstox.

It is an important judgment that provides much-needed clarity for taxpayers on how to disclose cash ...