ITAT Deletes ₹30.65 Lakh Addition: Cash Gift from Grandmother Held Genuine

Priyanka Vs ITO (ITAT Delhi) Cash Gift from Deceased Grandmother Held Genuine – Tribunal Quashes Addition u/s 69A- Double Taxation Avoided: Rental Income Already Offered in Grandmother’s Hands Assessee had filed return of income of ₹3,23,910/-. During scrutiny, AO noticed abnormal cash deposits of ₹30,65,000/- during demonetization period in Punjab National Bank account. Assessee explained that the source was a gift received from her deceased grandmother, Smt. Bhagwanti Hemrajani, out of rental income saved over several years. AO, not satisfied with the explanation, treated the deposi...