When Mr Marathikyathanahalli, a retired teacher from Mysore, Karnataka, India deposited Rs 1.33 crore in cash into his bank account, it triggered a red flag in the risk management strategy (RMS) established by the Central Board of Direct Taxes (CBDT). Moreover, Marathikyathanahalli had not filed any income tax return (ITR) leaving the Income Tax Department in the dark about his earnings for the year.
The only thing the Income Tax Department knew was that Marathikyathanahalli's primary source of income was farming and interest on his savings bank accounts, but they had no clue about the actual amounts he made from these sources.
