POA Holders Managing High-Value Cash Withdrawals obligated to File ITR: Madras HC

Thangaraju Vs Chief Commissioner of Income Tax (Madras High Court) Madras High Court has dismissed a writ petition filed by an advocate, Mr. Thangaraju, challenging an income tax notice issued by the Chief Commissioner of Income Tax for the assessment year 2017-2018. The court affirmed that individuals handling significant cash transactions, even as Power of Attorney (POA) holders, are obligated to file income tax returns. The case revolves around a property sale executed by Mr. Thangaraju on April 25, 2016, in his capacity as a Power of Attorney holder. The property was sold for Rs. 55,80,000...