The dispute originated when an Assessing Officer classified Rs 20.45 lakh in cash deposits as unexplained funds and added Rs 12.64 lakh in capital gains for assessment year 2020-21. The taxpayer escalated the matter to the tribunal after her initial appeal was rejected by the Commissioner of Income Tax (Appeals). The ITAT ordered the complete removal of the capital gains addition after confirming the sold property belonged to her daughters via registered gift deeds. Additionally, the tribunal deleted Rs 16.95 lakh of the cash deposits based on property records and accepted Rs 1 lakh from family savings tied to her retired husband's pension.
Key points
Merely signing a real estate sale deed as a confirming party does not establish ownership…: Merely signing a real estate sale deed as a confirming party does not establish ownership or trigger capital gains liability.
Registered transaction documents and established pension backgrounds can effectively subs…: Registered transaction documents and established pension backgrounds can effectively substantiate substantial family bank deposits during tax assessments.
Unsupported claims such as chit fund proceeds backed solely by photocopied records will n…: Unsupported claims such as chit fund proceeds backed solely by photocopied records will not receive automatic tax relief from appellate bodies.
Sources checked by our analysis pipeline: 1
A Telangana woman faced an income-tax dispute over Rs 20.45 lakh in cash deposits and Rs 12.64 lakh from a property sale. The ITAT Hyderabad partly ruled in her favour on September 9, 2026, by cancelling most of the income tax notices sent to her but, for one issue, asked the income tax officer for verification.
Here’s why the ITAT granted her relief on most of the disputed amounts and why one part of the case remains open.
The case relates to assessment year 2020-21, for which she had not filed an income-tax return (ITR).
Based on information available with the Income Tax Department, the Assessing Officer initiated reassessment proceedings and later noticed cash deposits of Rs 20.45 lakh and time deposits of Rs 34 lakh.
Also read: ₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here's why taxpayer wins at ITAT Delhi
According to CA (Dr.) Suresh Surana, on verification, the AO accepted the source of one fixed deposit of Rs. 17 lakh because it had come from another…
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