PARDEEP,ROHTAK vs. INCOME TAX OFFICER W-3, ROHTAK
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2017-18 Sh. Pradeep Kumar, S/o- Sh. Rajpal Singh, C/o- CA NC Garg, Mal Godam Road, Rohtak Vs. Income Tax Officer, Ward-3, Rohtak PAN :APBPP1098R (Appellant)
This assessee’s appeal for assessment year 2017-18, 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/250/2024-25/1073921668, dated
03.03.2025 involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties. Case file perused.
2. Coming to the sole substantive issue between the parties herein, it emerges that both the lower authorities have treated the Assessee by Ms. Mansi Jain, CA
Ms. Sakshi Rustogi, Adv.
Department by Sh. Akhilesh Kumar Yadav, Sr. DR
Date of hearing
03.06.2025
Date of pronouncement
03.06.2025
2 | P a g e assessee’s cash deposits during demonetization amounting to Rs.16.24 lakhs, as unexplained and liable to be assessed under section 115BBE of the Act. As against this, the assessee has invited the tribunal’s attention to the cash-flow statement as on 8th
November, 2016 indicating cash withdrawals of Rs.23.51 lakhs followed by re-deposit thereof to the tune of Rs.16.24 lakhs in question. That being the case, necessary inference which would arise is that although not specifically reconciled, the impugned cash represent assessee’s previous withdrawals.
3. Be that as it may, it is deemed appropriate in this factual backdrop that a lumpsum addition of Rs.1.24 lakhs only would be just and proper with a rider that the same shall not be treated as a precedent. The assessee gets the relief of Rs.15 lakhs in other words.
4. So far as assessee’s assessment under section 115BBE is concerned, I quote S.M.I.L.E. Microfinance Ltd. Vs. ACIT, W.P. (MD)
No.2078 of 2020 & 1742 of 2020, dated 19.11.2024 (Madras) that the impugned statutory provision would come into effect on the transaction done on or after 01.04.2017 only. The assessee is 3 | P a g e accordingly directed to be assessed under the normal provision as per law.
5. This assessee’s appeal is partly allowed.
Order pronounced in the open court on 3rd June, 2025 (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 3rd June, 2025. RK/-