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Income Tax Appellate Tribunal, : RANCHI BENCH, RANCHI
Before: SHRI S.S.GODARA
Date of hearing 03.03.2020 Date of pronouncement 03.03.2020 O R D E R S. S. Godara(Oral): This assessee’s appeal for assessment year 2014-15 arises against the Commissioner of Income Tax (Appeals), Hazaribag, Jharkhand dated 27.09.2017 passed in case no.10081/HZB/2016-17 involving proceedings u/s 143(3) of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused.
The assessee’s sole substantive grievance raised in the instant appeal challenges correctness of the CIT(A)’s action partly deleting unexplained cash credits addition of Rs.9,07,600/- to the extent of Rs.6,00,000/- only since going by the past four years’ exempt income limit of Rs.1.5 lakhs each. Learned counsel’s case is that assessee’s balance sheet as on 01.04.2013 itself shows opening balance of Rs.9,91,145/-. I find that this assessee had not filed any return of income for the preceding four assessment years which could support the claim of foregoing opening cash balance. The same appears to be the reasoning adopted Ashim Kumar Sinha, Ramgarh in the lower appellate authority’ order as well. I thus affirm the impugned addition of Rs.3,07,600/- made in the course of assessment and uphold the CIT(A)’s order.
This assessee’s appeal is dismissed.
Order is pronounced in the open court on 03.03.2020.