Cash Gift from Deceased Grandmother Not Proved – ITAT Pune Upholds Partial Addition

Vikram Narendra Patil Vs ITO (ITAT Pune) Case Background In the appeal of Vikram Narendra Patil vs. ITO, the Income Tax Appellate Tribunal (ITAT) of Pune addressed a dispute over an unexplained cash deposit made during the demonetization period for the Assessment Year 2017-18. The assessee, a salaried individual, had deposited ₹14.50 lakh in cash. When questioned, he claimed the source of the funds came from a mix of an opening cash balance, bank withdrawals, his declared income, and a significant ₹10 lakh cash gift from his grandmother on October 17, 2016. The Assessing Officer (AO) was n...