Delhi ITAT Clears Tax Penalty After Airline Worker’s Currency Claim

Tax officials found a large amount of Indian money and foreign currency in a businessman’s home.

The businessman said the Indian cash came from his company’s bank accounts.

He said the foreign currency belonged to his sister-in-law, Kemp.

Kemp worked for Jet Airways and often travelled to other countries.

She gave officials a written statement confirming that the currency was hers.

The investigation team accepted her explanation and did not take the foreign currency.

Later, another tax officer called both amounts unexplained and imposed a higher tax treatment.

The appeals authorities disagreed because there was supporting evidence and no contrary proof.

The Delhi ITAT therefore upheld the relief given to the taxpayer.