October 16, 2026
Business

Can money collected for someone else be taxed as your income? ITAT ruling on ₹20.33 lakh cash deposits(Soban News)

An 89-year-old retired principal said ₹20.33 lakh deposited in his bank accounts represented hostel fees collected for an education society, with only ₹2,251 left as surplus. The ITAT has sent the case back to the tax officer to verify the records and determine who actually owned the money.

​An 89-year-old retired principal said ₹20.33 lakh deposited in his bank accounts represented hostel fees collected for an education society, with only ₹2,251 left as surplus. The ITAT has sent the case back to the tax officer to verify the records and determine who actually owned the money. by Soban News (international And National News)

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