Can an old bank withdrawal explain a later cash deposit? ITAT answers

Kirti Jha is a Senior Content Producer at Mint, where she writes on mutual funds, taxation, personal finance and macroeconomic developments.

What happened

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HomeMoneyPersonal FinanceIncome Tax Dept flags ₹2.33 crore cash deposit; why taxpayers need a clear trail for sizeable cash withdrawals.

The bottom line

For now, can an old bank withdrawal explain a later cash deposit? ITAT answers remains the part of the story worth watching, and further updates are likely as more details are confirmed.