SOMVATI GUPTA,DELHI vs. INCOME TAX OFFICER, WARD 36(2), NEW DELHI , DELHI

Learned departmental representative vehemently argues during the course of hearing that both the lower authorities’ respective detailed findings have rightly treated the assessee’s cash deposits in her bank account of Rs.10.78 lakhs as unexplained, in assessment order dated 14.12.2019 and upheld in the lower appellate discussion.

It is in this factual backdrop that the tribunal hereby notices from a perusal of case records that the learned Assessing Officer has himself given a categorical finding in assessee’s favour that not only she had been cultivating her agricultural lands but also she had kept her potato produce in a cold storage whose receipts have been incorporated in the assessment order itself. That being the case, the necessary inference which arises in the given facts is that the impugned cash deposits added in the assessee’s hands amounting to Rs.10.78 lakhs; although not satisfactorily reconciled before the learned lower authorities, represent the assessee’s agricultural income which deserves to be upheld to the tune of Rs.1 lakh only with a rider that the same shall not be treated as a precedent. The assessee gets relief of Rs.9.78 lakhs in other words.