Economy

Man deposits Rs 85.3 lakh given to him as cash gifts, gets notice; ITAT gives relief

· 6 October 2026 · 2 min read
Man deposits Rs 85.3 lakh given to him as cash gifts, gets notice; ITAT gives relief

The Times of India has reported a new India-focused economy development: “Man deposits Rs 85.3 lakh given to him as cash gifts, gets notice; ITAT gives relief.” The publisher's feed describes the story as follows: <![CDATA[In one such case in Chennai, a man received cash gifts of Rs 85.03 lakh from his relatives. The Income Tax Department began making enquiries into the source of the Rs 85.03 lakh deposited by the man. The department also sent tax notices to the relatives who had given him the

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