Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT Chennai

Mr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cash in his bank account. After this he got an unexplained deposit tax notice. He wins case in ITAT Chennai; Know how.

from Tax-Wealth-Economic Times https://ift.tt/Jdj6T2g