SANJEEV AGRAWAL,C/O AKUL AGARWAL AND ASSOCIATES vs. INCOME TAX OFFICER, WARD 2(3), INCOME TAX OFFICE

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ITA 2929/DEL/2025Status: DisposedITAT Delhi19 August 2025AY 2017-18Bench: Sh. Satbeer Singh Godara (Judicial Member)4 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 there was no merit in the impugned addition because the assessee's explanation for the cash deposits was accepted by the lower authorities themselves in the assessment proceedings. Therefore, the appeal was allowed.

What were the facts?

The assessee's appeal pertains to AY 2017-18, challenging an addition based on cash deposits of Rs. 9,00,000/-. The Assessing Officer (AO) had initiated proceedings under Section 148 to examine total cash deposits of Rs. 31,52,000/-, where the assessee's explanation was accepted in a subsequent assessment order.

What were the issues?

Whether the cash deposits made by the assessee were correctly treated as unexplained by the lower authorities, especially when a subsequent assessment accepted the explanation for a larger sum.

Which sections of the Income-tax Act were involved?

Section 148,Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI

Before: Sh. Satbeer Singh Godara

Hearing: 19.08.2025Pronounced: 19.08.2025

Asstt. Year : 2017-18 Sanjeev Agrawal, Vs Income Tax Officer, Plot No. D2/20, Sector-10, DLF, Ward-2(3), Faridabad-121006 Faridabad-121001 (APPELLANT) (RESPONDENT) PAN No. AAZPA6949F Assessee by: Sh. Akul Agarwal, FCA Revenue by : Sh. Manoj Kumar, Sr. DR Date of Hearing: 19.08.2025 Date of Pronouncement: 19.08.2025 ORDER This assessee’s appeal for Assessment Year 2017-18, arises against the Addl./JCIT(A)-4, Kolkata’s DIN & order No. ITBA/APL/S/250/2024-25/1067744132(1) dated 19.08.2024, in proceedings u/s 144 of the Income Tax Act, 1961 (in short “the Act”).

2.

Heard both the parties at length. Case file perused.

3.

Coming to the sole substantive issue between the parties regarding correctness of both the learned lower authorities’ action treating the assessee’s cash deposits of Rs.9,00,000/- dated 11.11.2016; as unexplained which stood added in the assessment order herein dated 09.12.2019 and upheld in the lower appellate discussion. A perusal of the case file indicates that the learned assessing authority had initiated section 148 Sanjeev Agrawal proceedings thereafter vide notice dated 10.02.2022 for the purpose of examining the assessee’s total cash deposits of Rs.31,52,000/- wherein his explanation stood duly accepted in the assessment order subsequently passed on 29.03.2022. This being the clinching factual position, the tribunal finds no merit in the impugned addition as the very learned authorities itself has accepted the assessee’s explanation in the foregoing terms. Deleted accordingly.

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