New Delhi, Sept. 28 -- An 89-year-old retired school principal's explanation for Rs.20.33 lakh in cash deposits has prompted the Income Tax Appellate Tribunal (ITAT) to order a fresh examination of whether the money actually belonged to him or was collected on behalf of an education society.

According to the 22 September 2026 order of the Bengaluru bench of the ITAT in Suleekere Kallegowda Rajashekar v. Income Tax Officer, Ward-1, Tumakuru, ITA No. 2405/Bang/2025, the taxpayer said the deposits represented hostel fees collected from students of Sri Vidya Peetha (R) Education Society, with only Rs.2,251 allegedly remaining as surplus.

The case relates to assessment year 2017-18. The taxpayer had deposited Rs.20.33 lakh in cash into two B...