NARESH RAMESH DESHMUKH ,MUMBAI vs. ACIT, CIRCLE , PALGHAR

IN THE INCOME TAX APPELLATE TRIBUNAL
“SMC” BENCH MUMBAI

BEFORE HON’BLE BR BASKARAN, ACCOUNTANT MEMBER
HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER
Naresh Ramesh Deshmukh
Pilena Nagar, Petro Pump
Road, Behind Ayyapa
Temple, Palghar – 401 404. Vs.
ACIT, Cirle, Palghar
1st Floor, Income tax
Office Bidco Road – 401
404. PAN/GIR No. AJPPD4366E
(Applicant)
(Respondent)

Assessee by Shri Jignesh Shah
Revenue by Smt. Usha Gaikwad, Sr. DR

Date of Hearing
05.03.2025
Date of Pronouncement
10.03.2025

आदेश / ORDER

PER SANDEEP GOSAIN, JM:

The present appeal has been filed by the assessee challenging the impugned order 30.10.2023 passed u/s 250 of the Income Tax Act, 1961 (‘the Act’), by the National
Faceless Appeal Centre, Delhi / CIT(A), for the A.Y 2017-18
. The assessee has raised the following grounds of appeal:
1. Addition of cash deposits of Rs. 25,29,500 in bank during the demonetization period as unexplained money under section 69A

2
Naresh Ramesh Deshmukh, Mumbai
On the facts and in the circumstances of the case and in law, the CIT(A) erred in confirming the addition of Rs. 25,29,500 as unexplained money under section 69A in respect of the aggregate cash deposited in bank in Specified Bank Notes (SBN) during the demonetisation period without appreciating that this money did not belong to the Appellant but belonged to the Appellant's clients on whose behalf the Appellant e-paid stamp duty, registration charges, etc. to the State Government out of this money for registration of the clients' property documents as the Appellant is in the profession of registration agent for documents of immovable properties with the office of the