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Informative

Cash Deposit of ₹10 Lakh Claimed as Gift from Deceased Grandmother Lacked Evidence: ITAT Grants...

Update / Judgement Date

10 Sept 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Family LawIncome Tax

The ITAT has granted partial relief to a taxpayer whose ₹4.5 lakh cash deposit, claimed as a gift from a deceased grandmother, lacked sufficient evidence. The tribunal, while noting the lack of a proper explanation for the entire amount, decided to delete a portion of the addition, reducing it to a more reasonable figure. This ruling highlights the importance of maintaining proper documentation and evidence for all financial transactions, particularly large cash deposits. The decision is a crucial reminder to all that they must be diligent in their dealings.