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Income tax cash deposit ruling

Income tax cash deposit ruling

Finance · 6 updates

Rs 1.33 crore cash, no ITR; yet wins tax case

Rs 54L cash deposit & no ITR, but tax notice revoked

Rs 25L unexplained cash: Employee wins tax case

Taxpayer wins Rs 85.3L unexplained cash gift case

Tax notice for Rs 67L ancestral jewellery, wins case

Man gets leave encashment tax benefit, but limit hiked later; ITAT allows Rs 12.27L

The ITAT Chennai bench viewed the increase from Rs 3 lakh to Rs 25 lakh as an enhancement of an existing benefit, rather than the creation of a new exemption. The Tribunal also found the change beneficial and remedial in nature and said it was intended to reduce hardship and bring parity between government and non-government employees.