Retired man deposits Rs 1.33cr, files no ITR; taxman sends notice, what ITAT said

A retired school teacher from Mysore, Karnataka, found himself facing income tax reassessment proceedings after cash deposits totalling Rs 1.33 crore in his bank accounts were flagged under the Central Board of Direct Taxes' (CBDT) risk management strategy (RMS).The Income Tax Department also noted that the individuals had not filed an income tax return (ITR) for the relevant year. This meant the department did not have details of the income he had earned during the period under scrutiny.The department was aware that agriculture and interest from savings bank accounts were his stated primary sources of income. What it did not have, however, was information about the actual income he had earned from either source.What the case is aboutThe cash deposits consequently prompted the department to examine whether the senior citizen had any income that had not been disclosed for assessment year (AY) 2015-16.