ITAT Quashes 115BBE Addition for Assessee’s Age-Related Memory Challenge

Madhavan Suram Vs DCIT (ITAT Hyderabad) Introduction: The Income Tax Appellate Tribunal (ITAT) Hyderabad recently delivered an important verdict in the case of Madhavan Suram vs. DCIT (Deputy Commissioner of Income Tax). The case revolves around the quashing of an addition under Section 115BBE of the Income Tax Act, 1961, due to the inability of the elderly assessee to recall income details within the specified time frame. Background of the Case: Madhavan Suram, the assessee in this case, is approximately 73 years old and retired as a Cashier from the State Bank of India (SBI) in 2001. In the ...