ITAT Chennai backs taxpayer over Rs 85.03 lakh cash gifts
In short
Mr Amirtharaj from Thygarayanagar deposited Rs 85.03 lakh in cash gifts from relatives, including his sister’s husband and uncle, into his bank account. He then got a notice over unexplained deposits.
This matters because the case went to ITAT Chennai and he won. The report does not say the full legal reasoning or whether there will be an appeal.
What the reporting says
A taxpayer from Thygarayanagar, identified as Mr Amirtharaj, deposited Rs 85.03 lakh in cash gifts from relatives including his sister’s husband and uncle, then received a notice over unexplained deposits. The available summary says he contested the notice and won the case in ITAT Chennai. The reporting does not state the tribunal’s full reasoning or whether the tax department will appeal.
Why it matters
Mr Amirtharaj from Thygarayanagar deposited Rs 85.03 lakh in cash gifts from relatives, including his sister’s husband and uncle, into his bank account and later received a notice over unexplained deposits. The summary says he contested the notice and won at ITAT Chennai. The details of the tribunal’s reasoning and any further tax action are not stated in the available reporting.