ITAT sends ₹20.33 lakh cash deposit case back for verification
In short
An 89-year-old retired principal said ₹20.33 lakh in bank deposits was money collected as hostel fees for an education society. He said only ₹2,251 was left over. The ITAT sent the case back to the tax officer.
That means the tax question is still open. The reporting does not say who will finally be taxed or what the officer will decide.
What the reporting says
An 89-year-old retired principal said ₹20.33 lakh deposited in his bank accounts was hostel fees collected for an education society, with only ₹2,251 left as surplus. The ITAT has sent the matter back to the tax officer to verify the records and decide who actually owned the money. The immediate outcome is unresolved tax treatment, while the final ownership of the cash remains unknown in the available reporting.
Why it matters
The reported case concerns an 89-year-old retired principal and ₹20.33 lakh in cash deposits. He claimed the money belonged to an education society and was collected as hostel fees, leaving ₹2,251 surplus. The ITAT has remanded the matter to the tax officer for verification of records and ownership. The reporting does not state the final tax result.