ITAT Dehradun Deletes Sec 69A Addition on Housewife’s Savings

Minakshi Rally Vs ACIT (ITAT Dehradun) The ITAT Dehradun allowed the assessee’s appeal and deleted addition of ₹2 lakh sustained u/s 69A in respect of cash found during search proceedings. The assessee, a homemaker, explained that the cash represented long-term “pin money” savings accumulated over 40 years of married life along with small gifts received during family occasions such as marriages and ceremonies. The Tribunal observed that it is normal and customary for Indian housewives to accumulate small savings from household money and occasional gifts, and such explanation was reason...