Son faced notices over Rs 33.23 lakh property & cash; ITAT accepts mother's gold-sale gift evidence

The Assessing Officer (AO) treated both the property investment of Rs 20,23,778 and the cash deposits of Rs 13,04,900 as unexplained.

This resulted in additions of Rs 33,28,678, or approximately Rs 33.29 lakh, to the man’s income.

The person contested the assessment before the Commissioner of Income Tax (Appeals).

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Key focus areas include regulatory direction, banking operations, credit conditions, customer service, compliance readiness, and market developments connected with "Son faced notices over Rs 33.23 lakh property & cash; ITAT accepts mother's gold-sale gift evidence".

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Source attribution: Times of India – Business.

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