A Delhi man who deposited Rs 2.47 crore in cash during the demonetisation period has got major relief from the Income Tax Appellate Tribunal. The Delhi Bench of the ITAT deleted a total tax addition of Rs 3.32 crore after finding that the taxpayer had produced supporting documents to explain the cash deposits and the tax authorities had not been able to point out specific defects in those documents. The case relates to Rakesh Kumar, who had deposited a total of Rs 2,47,91,057 in cash during financial year 2016-17 in three savings bank accounts maintained with Oriental Bank of Commerce. The Assessing Officer treated the entire amount as unexplained cash under Section 68 of the Income Tax Act and applied Section 115BBE. Kumar told the tax authorities that Rs 1,64,37,357 of the deposits came from cash sales in his retail pharmaceutical and medicines business. He also explained another Rs 83.70 lakh as cash withdrawals, personal savings and savings of family members.