NEELAM GARG,FARIDABAD vs. INCOME TAX OFFICER WARD 2(1), FBD, HARYANA
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2024-25/1070604288(1) dated 25.11.2024, in proceedings u/s 144 of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
It transpires during the course of hearing that both the learned lower authorities have treated the assessee’s cash deposits during demonetization amounting to Rs.14,46,500/- as unexplained, in the assessment order dated 11.12.2019 as upheld in the lower appellate discussion. Neelam Garg
2
4. That being the case, the assessee has filed her bank account statement indicating cash withdrawals in a loan account maintained with M/s
ICICI
Bank on 25.07.2015
amounting to Rs.14,50,000/- which has gone un-rebutted from the Revenue side. It is thus clear that the necessary inference which would arise in the given facts is that the assessee’s impugned cash deposits infact represent the cash withdrawals from loan account which could not be treated as unexplained.
The impugned addition stands deleted in very terms.
This assessee’s appeal is allowed. Order Pronounced in the Open Court on 25/08/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 25/08/2025
*Subodh Kumar, Sr. PS*