SHRI NARENDRA BAHADUR SINGH,LUCKNOW vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-II, LUCKNOW

ITA 53/LKW/2020Status: DisposedITAT Lucknow11 June 2026AY 2017-1838 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal directed the AO to assess income at a 5% net profit rate and restored the issue of income from property sale back to the AO for fresh adjudication. The deletion of additions related to demonetization cash deposits by the CIT(A) was upheld.

What were the facts?

The appeals involved issues related to net profit rate, additions on account of unexplained property acquisitions, and cash deposits during demonetization. The Assessing Officer (AO) had made additions based on a 10% net profit rate and Section 69 additions, while the Commissioner of Income Tax (Appeals) [CIT(A)] had deleted some additions and modified others.

What were the issues?

Whether the net profit rate applied by the AO was justified, and whether additions made under Section 69 for unexplained property acquisitions and Section 69A for cash deposits were valid.

Which sections of the Income-tax Act were involved?

Section 153A,Section 143(3),Section 144,Section 145,Section 69,Section 69A

AI-generated summary — verify with the full judgment below

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “B”, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRE IENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER IT(SS) A. Nos. 44 to 50/LKW/2020 Assessment Years: 2011-12 to 2017-18 Diwakar Singh v. Dy. Commissioner of 1-64, Vardan Khand, Gomti Income Tax Central Nagar, Lucknow-226001. Circle-II P. K. Complex 27/2, Raja Ram Mohan Rai Marg, Lucknow-226001. PAN:AOUPS5649M (Appellant) (Respondent) IT(SS) A. Nos. 110 to 113/LKW/2020 Assessment Years: 2014-15 to 2017-18

Dy. Commissioner of Income v. Diwakar Singh Tax Central Circle-II 1-64, Vardan Khand, P. K. Complex 27/2, Raja Ram Gomti Nagar, Lucknow- Mohan Rai Marg, Lucknow- 226001. 226001. PAN:ABVPG1656N (Appellant) (Respondent) IT(SS) A. Nos. 51 to 53/LKW/2020 Assessment Years: 2015-16 to 2017-18 Narendra Bahadur Singh v. Dy. Commissioner of 1-64, Vardan Khand, Gomti Income Tax Central Nagar, Lucknow-226001. Circle-II P. K. Complex 27/2, Raja Ram Mohan Rai Marg, Lucknow-226001. PAN:ABVPG1652J (Appellant) (Respondent) Assessee Represented by: Shri Samrat Chandra, CA Revenue Represented by: Shri Koushlendra Tewari, CIT(DR)

IT(SS) A Nos. 231 to 238/LKW/2018 ITA. Nos.470 to 479/LKW/2018 Page 2

The order continues below.

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