ASIF,MUZAFFARNAGAR vs. INCOME TAX OFFICER, WARD-3(1)(1), MUZAFFARNAGAR

This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National
Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1066116825(1), dated
27.06.2024 involving proceedings under section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

Heard both the parties. Case file perused.
2. Delay of 314 days in filing of the instant appeal is condoned in the larger interest of justice and in light of Assessee by Sh. Ankit Gupta, Adv.
Department by Sh. Manoj Kumar, Sr. DR
Date of hearing
21.08.2025
Date of pronouncement
21.08.2025
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Collector Land Acquisition vs. Mst. Katiji & Ors (1987) 167
ITR 471 (SC).
3. Coming to the assessee’s sole substantive grievance raised in the instant appeal against both the learned lower authorities’
action treating his cash deposits of Rs.10,39,500/- as unexplained, a perusal of the case records indicates that he has filed his bank statement of the relevant financial year indicating multiple deposits and withdrawals followed by re-deposits wherein the peak amount comes to Rs. 65,000/- only. Meaning thereby that it is an instance of multiple withdrawals and re-deposits which could not have been added in entirety in assessee’s hands as unexplained. That being the case, the tribunal’s finds merit in the assessee’s arguments to this limited extent and hereby directs the learned Assessing Officer to assess only an amount of Rs.65,000/-as unexplained to be followed by his consequential computation as per law.
4. This assessee’s appeal is partly allowed.
Order pronounced in the open court on 21st August, 2025 (SATBEER SINGH GODARA)

JUDICIAL MEMBER

Dated: 21st August, 2025. RK/-