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Retirement Benefits & Household Savings Explain Cash Deposits, No Scope for 69A Addition
Case Law Details
- Case Name
- Couppammal Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
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Couppammal Vs ITO (ITAT Chennai)
In this case, the appeal was delayed by 69 days. Assessee, a retired Government servant, filed an affidavit explaining the delay. Tribunal found the reasons bonafide & condoned the delay.
The return was selected for limited scrutiny to examine cash deposits during demonetisation vis-à-vis returned income. AO noted deposits of ₹19,36,000/-. After considering submissions, AO allowed relief of ₹7,00,000/- against current year withdrawals but added ₹12,36,000/- u/s 69A. CIT(A) confirmed this addition.
Before Tribunal, Assessee argued that, being a retire...
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