Senior Citizen Wins Rs 65 Lakh Income Tax Case on Cash Deposit
Ram Singh, a senior citizen, was issued an income tax notice for an alleged unexplained cash deposit of Rs 65.27 lakh in his Punjab National Bank savings account. The Income Tax Assessing Officer (AO) did not accept Ram Singh's explanation of pension and fixed deposit interest as the source. The Commissioner of Appeals initially upheld the tax demand on February 9, 2024, stating the source was not properly explained, but the case was later won by Ram Singh.
Economic Times··Tapukara



