Source of Money cannot be doubted If Fixed Deposits are made out of Savings: ITAT grants Relief to Senior Citizen Lady [Read Order]

Tax Savings - Source of Money - Fixed Deposits - Savings - ITAT - Senior Citizen Lady - Taxscan

In a woman-friendly ruling, the Cuttack bench of the Income Tax Appellate Tribunal (ITAT) has held that the source of money cannot be doubted if the fixed deposits are made out of the savings of the assessee. The assessee, Ms. Namita Mohanty is a senior citizen living with her family including son and daughter-in-law. Post-search…

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