RAVINDER JAIN,NEW DELHI vs. ITO, WARD 34(4), NEW DELHI
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2013-14
This assessee’s appeal for assessment year 2013-14, 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/250/2024-25/1070977389(1), dated
06.12.2024 involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
2. Heard both the parties. Case file perused.
Assessee by Sh. Shantanu Jain, Adv.
Sh. Gurjeet Singh, CA
Department by Sh. Yogeshwar Sharma, Sr. DR
Date of hearing
14.05.2025
Date of pronouncement
14.05.2025
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It emerges during the course of hearing that the assessee is aggrieved against both the learned authorities’ action treating alleged “peak” sum of his cash deposits amounting to Rs.44,38,292/-, in the course of assessment framed on 28.03.2016 and upheld in the lower appellate discussion. 4. Faced with this situation, learned counsel has filed the assessee’s details of all of his withdrawals right from 03.04.2012 onwards indicating an amount of Rs.1,34,08,519/- as against the “peak” amount in question forming subjecting matter of challenge. The fact, however, remains that even if it is held that the assessee’s withdrawals are already much more excess than his cash deposits, neither his stand get seeking to delete the entire addition could be accepted for want of satisfactory explanation all along, nor the same could be altogether denied for the purpose of granting credit thereof. That being the case, it is deemed appropriate in the larger interest of justice that a lumsum addition of Rs. 4 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.40,38,292/- in other words. Necessary computation shall follow as per law. 5. This assessee’s appeal is partly allowed. 3 | P a g e
Order pronounced in the open court on 14th May, 2025 (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 14th May, 2025. RK/-