VIMAL CHANDRA JHA vs. INCOME-TAX OFFICER,

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ITA 411/PUN/2016Status: DisposedITAT Pune04 February 2021AY 2007-084 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the additions were not based on any seized material and that the amounts were too meager to disbelieve the assessee's financial capacity. The AO also failed to provide material to support the low withdrawal addition.

What were the facts?

The assessee's premises were searched, and returns were filed under Section 153A. The Assessing Officer made additions for unexplained cash deposits and low withdrawals, which were confirmed by the CIT(A).

What were the issues?

Whether additions made under Section 153A can be sustained without reference to seized material, and whether the additions for unexplained cash deposits and low withdrawals were justified.

Which sections of the Income-tax Act were involved?

Section 132A,Section 153A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, PUNE

Before: SHRI INTURI RAMA RAO, AM & SHRI PARTHA SARATHI CHAUDHURY, JM

For Appellant: Shri Pratik Sandbhor
Hearing: 04.02.2021Pronounced: 04.02.2021

ORDER

PER INTURI RAMA RAO, AM:

1.

This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)-13, Pune (‘CIT(A)’ for short) dated 06.11.2015 for the assessment year 2007-08.

2.

Briefly, the facts of the case are that the appellant is working as an agent for education institutions. A search and seizure action u/s 132A of the Income Tax Act, 1961 (‘the Act’ for short) was carried on the appellant on 07.08.2009. The appellant had not been filing returns of income voluntarily for the assessment years 2004-05 to 2007-08. However, based on the notice issued u/s 153A of the Act, the returns of income for the assessment years 2004-05 to 2010-11 were filed on 11.04.2011. The return of income for the assessment year 2007-08 was filed showing total income of Rs.2,87,310/- in response to notice u/s 153A of the Act. During course of assessment proceedings u/s 153A of the Act, the Assessing Officer found that the assessee made following cash deposits in bank account :- Date Amount (Rs.) 03-04-2006 40,000 26-05-2006 7,000 22-06-2006 33,000 24-06-2006 49,500 17-07-2011 20,000 30-10-2006 35,000 Total 1,84,500/- The explanation offered by the appellant had not accepted. The Assessing Officer, accordingly, made addition of Rs.1,84,500/- as unexplained cash deposits. 3. The Assessing Officer also made an addition of Rs.1,40,061/- on account of low withdrawals for personal purposes and completed the assessment vide order dated 30.12.2011 u/s 143(3) r.w.s. 153A of the Act. 4. Being aggrieved by the action of the Assessing Officer, an appeal was preferred before the ld. CIT(A), who vide his impugned order confirmed the action of the Assessing Officer. 5. Being aggrieved by the order of the ld. CIT(A), the assessee is before us in the present appeal,

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