MOHD JAVED, 736, GALI FAZAL PURA, DARYA GANJ, SUI WALAN, DELHI-110002,DELHI vs. ITO, WARD 48(1), DELHI, DELHI

Asstt. Year : 2017-18 Mohd Javed, Vs Income Tax Officer, 736, Gali Fazal Pura, Darya Ganj, Ward-48(1), Sui Walan, Delhi-110002 New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AGPPJ7753C Assessee by: Sh. G. S. Kohli, CA Revenue by : Sh. Manoj Kumar, Sr. DR Date of Hearing: 27.05.2025 Date of Pronouncement: 27.05.2025 ORDER

This assessee’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2024-25/1073536390(1) dated 20.02.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).

Mohd Javed 4. Learned departmental representative vehemently argues that both the learned lower authorities have already granted substantive relief to the assessee despite the fact that he had failed to explain the source of the above cash deposits in the course of assessment as well as in the lower appellate proceedings. That being the case, a perusal of the assessee’s paper book at pages 16 onwards reveals that the earlier co- ordinate bench; while dealing with section 271B penalty, has already held that he is a commission agent earning a miniscule margin on various products marketed and sold by M/s Gujarat Cooperative Milk Marketing Federation Ltd. which comes to 0.55% to 12.16% on various products. It is therefore clear all the assessee’s cash deposits already stand explained although not specifically reconciled item wise. Be that as it may, it is deemed appropriate in the larger interest of justice that a lump sum addition of Rs.4,50,000/- only (inclusive of his profits already declared of Rs.3,37,620/-) would be just and proper with a rider that the same shall not be treated as a precedent. Necessary computation shall follow as per law.