Customary Practice of NRI Providing Cash to Parents not ‘Suspicious’: ITAT deletes Cash Deposit by NRI out of Savings of Family Members

NRI Tax - NRI - ITAT - Cash Deposit - NRI - Savings - taxscan

The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh (Vice President) and Shri Manoj Kumar Aggarwal, (AM) has recently deleted an addition against a non-resident Indian by holding that the cash deposits made by him out of savings from his old aged parents cannot be treated as “unexplained” under the Income Tax…

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