Triveni Devi Bhutra Vs. ITO, Ward-61(4), Kolkata
Case No: ITA No.: 965/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘SMC’ BENCH, KOLKATA
Date: 11/14/2025
Parties Involved
AppellantTriveni Devi Bhutra
RespondentITO, Ward-61(4), Kolkata
Facts Summary
The assessee, Triveni Devi Bhutra, filed her return of income showing a total income of ₹3,33,920/-. The Assessing Officer found that the assessee had deposited ₹2,50,000/- in cash during the demonetization period and added this amount to her income. The assessee provided documents to support the deposit, but the AO found them insufficient. Additionally, the AO added a bonus of ₹52,537/- from a life insurance policy to the assessee's income, assessing the total income at ₹6,05,460/-. The assesse…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of ₹53,000/- out of a cash deposit of ₹2,50,000/- is justified.
- 2. Whether the bonus of ₹21,537/- on maturity of an insurance policy is exempt under section 10(10D) of the IT Act.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.