The Economic Times

Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts family gift explanation

A Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father, and mother. The Income Tax Appellate Tribunal Mumbai accepted his explanation for a significant portion of the amount. The tribunal ruled in his favor, partially deleting the unexplained cash addition.