VIJAY SINGH,GB NAGAR vs. INCOME TAX OFFICER, NOIDA
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2010-11, arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2024-25/1072462122(1) dated 23.01.2025, in proceedings u/s 147 r.w.s. 144 of the Income Tax Act, 1961
(in short “the Act”).
Heard both the parties at length. Case file perused.
A perusal of the case file indicates that both the learned lower authorities have added the assessee’s cash deposits of Rs.10,75,000/- out of Rs.15,75,000/-; as unexplained, in the assessment order dated 30.11.2017 and upheld in the lower appellate discussion.
I have given my thoughtful consideration to the assessee’s and the Revenue’s vehement rival submissions reiterating their Vijay Singh 2 respective stands. It is noticed that even the learned Assessing Officer himself is very fair in granting credit of Rs.5,00,000/- to the assessee as representing sale consideration of agricultural land during the year. The necessary inference as per Smt. Malini Ramnath Rele vs. ITO (1994) 49 ITD 43(MUM) (TM) which would arise in such an instance that the impugned cash deposits; apart from agricultural produce sales and family savings, is that the assessee had also received some on money component as well which could not be denied in the given facts and circumstances of the case. Be that as it may, it is thus deemed appropriate in the larger interest of justice that a lump sum addition of Rs.1,50,000/- only would be just and proper with a rider that the same shall not be treated as a precedent. The assessee gets relief of Rs.9,25,000/- in other words. Necessary computation shall follow as per law.
This assessee’s appeal is partly allowed. Order Pronounced in the Open Court on 26/06/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 26/06/2025
*Subodh Kumar, Sr. PS*