New Delhi, Aug. 9 -- A retired school teacher from Mysore who had deposited Rs.1.33 crore in cash across bank accounts and had not filed an income tax return for assessment year (AY) 2015-16 has won his tax dispute before the Income Tax Appellate Tribunal (ITAT), Bangalore.

The tribunal did not rule that the cash deposits were automatically tax-free. Instead, it quashed the reassessment proceedings after finding that the income tax department's Section 148 notice was issued beyond the permissible limitation period, according to an Economic Times report on the case.

The case arose after information available under the Central Board of Direct Taxes' (CBDT) risk management system flagged several transactions in the taxpayer's bank accounts...