SH. RAJIV KUMAR,AMRITSAR. vs. THE INCOME TAX OFFICER, AMRITSAR.

ITA 517/ASR/2015Status: DisposedITAT Amritsar14 February 2019AY 2006-078 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that savings from past income are plausible and allowed a portion of the deposits to be explained by such savings. The addition for AY 2005-06 was partly deleted, and the addition for AY 2006-07 was fully deleted.

What were the facts?

The Assessing Officer (AO) added cash deposits in the assessee's bank account as income for AY 2005-06 and 2006-07, as the assessee failed to provide satisfactory explanation. The CIT(A) confirmed the additions after partially deleting some amounts identified as transfer/cheque deposits.

What were the issues?

Whether cash deposits in a bank account can be explained by savings from past income, and the validity of additions made by the AO without proper verification.

Which sections of the Income-tax Act were involved?

Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR

Before: SH. N. S. SAINI & SH. N. K. CHOUDHRY

Hearing: 11.2.2019Pronounced: 14.2.2019

Per N.S. SAINI, AM: These are the appeals filed by the assessee against the Order of Commissioner of Income Tax (Appeals), Amritsar, dated 31.7.2015. 2. In both the years in appeal, the assessee has taken additional grounds of appeal, which reads as under:-

1.

That the AO has erred in law and on facts while initiating proceeding u/s 147 of the Income Tax Act.

2.

That despite specific requests the reason/s of initiating the proceeding u/s 147 has not been supplied.

3.

That this is a legal ground and no fresh information is required for deciding this ground.

2 ITA Nos. 516 & 517/Asr/2015 – Shri Rajiv Kumar, Amritsar

4.

The appeal is fixed for hearing before the Hon'ble Bench on 14th

The order continues below.

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