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ITAT Rejects Man's Plea Over Rs 41.69 Lakh Cash Deposit With No ITR Filed

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A man identified as Reddy faced tax proceedings over Rs 41.69 lakh in unexplained cash deposits for which no income tax return had been filed. Reddy claimed he only became aware of the tax notice when he applied for a foreign travel visa, after the embassy informed him an ITR was required. He argued that his wife had covered his expenses, offering this as an explanation for the deposits. The Income Tax Officer rejected his explanation, and the Income Tax Appellate Tribunal subsequently dismissed his plea.

Read the full story at Times of India

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ITAT Rejects Man's Plea Over Rs 41.69 Lakh Cash Deposit With No ITR Filed · ShortSingh