Housewives having no business income, would not be questioned if bank deposits during demonetisation were less than Rs 2,50,000, says ITAT

Last updated: 25 June 2021

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The Income-Tax Appellate Tribunal (ITAT) in Agra has ruled that housewives with no business income should not be questioned if their bank deposits during the demonetisation period were less than Rs 2,50,000. This decision came after an appeal by an individual who had deposited Rs 2,11,500, claiming it was from previous savings and gifts. The ITAT considered the source of funds and the taxpayer's financial standing.

Court :
ITAT Agra

Brief :
This appeal filed by the assessee against the Order dated 25/03/2021 by the National Faceless Appeal Centre, the following grounds raised as under: -

Citation :
ITA No.35/Agr/2021

Daily Limit Reached