Retirement Benefits & Household Savings Explain Cash Deposits, No Scope for 69A Addition

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...