Retired senior citizen teacher deposited Rs 1.33 crore cash, but filed no ITR; taxman added Rs 48.73 lakh, ITAT quashes reassessment, here’s why
The cash deposits prompted the department to examine whether the senior citizen had any income that had not been disclosed. (Image for representative purpose only) A retired school teacher from Mysore, Karnataka, found himself facing income tax reassessment proceedings after cash deposits totalling Rs 1.33 crore in his bank accounts were flagged under the Central […]
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