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POA Holders Managing High-Value Cash Withdrawals obligated to File ITR: Madras HC
Case Law Details
- Case Name
- Thangaraju Vs Chief Commissioner of Income Tax (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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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...
