In the case of Smt. Uma Agarwal vs ITO, ITAT Agra has held that:
The word “ may” had been used by the statute under section 69A, as had been used by the statute under section 69 of the Income Tax Act 1961, therefore applying the same analogy as laid down by SC in the case of Smt. P.K. Noorjahan(supra) , we are of the opinion that the amount deposited by the assessee during the demonetisation cannot be treated as income of the assessee. Hence the appeal of the assessee is allowed.
Brief Facts of the Case
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