SH. BALWANT SINGH BINDRA,NEW DELHI vs. ITO, NEW DELHI

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ITA 4495/DEL/2016Status: DisposedITAT Delhi05 February 2020AY 2010-113 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The assessee's counsel sought permission to withdraw the appeal before the Tribunal. In light of this request and the facts of the case, the Tribunal dismissed the appeal as withdrawn.

What were the facts?

The Assessing Officer made an addition of Rs. 6 lakhs on account of cash deposits in the assessee's bank account. The assessee admitted that this amount represented undisclosed income for the assessment year. The CIT(A) confirmed the addition.

What were the issues?

The primary issue was the addition of cash deposits as undisclosed income. The appeal was withdrawn by the assessee before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES “A” : DELHI

Before: SHRI BHAVNESH SAINI & SHRI R.K. PANDA

Hearing: 05.02.2020Pronounced: 05.02.2020

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “A” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA.No.4495/Del./2016 Assessment Year 2010-2011 Shri Balwant Singh Bindra, The Income Tax Officer, Prop. M/s. Bindra Tyres, vs. Shop No.178, Janta Market, Ward – 63 (4), Rani Jhansi Road, Jhandewalan, New Delhi-55 New Delhi. PAN ACIPB5134E (Appellant) (Respondent) Shri K. Sampath, Advocate And For Assessee : Shri V. Rajkumar, Advocate For Revenue : Shri S.L. Anuragi, Sr. D.R. Date of Hearing : 05.02.2020 Date of Pronouncement : 05.02.2020 ORDER PER BHAVNESH SAINI, J.M.

This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-20, New Delhi, Dated 21.06.2016, for the A.Y. 2010-2011, challenging the reopening of the assessment and addition of Rs.6 lakhs on account of cash deposits.

2 ITA.No.4495/Del./2016 Shri Balwant Singh Bindra, New Delhi.

2.

The A.O. in the assessment order has reproduced the statement of assessee in which assessee has agreed that he has deposited Rs.6 lakhs in cash in his own account which is not declared in the return of income. The assessee accepted that this amount is from his undisclosed income for the year under appeal. The A.O. in the absence of any evidence on record and statement of assessee, made the addition of Rs.6 lakhs under section 68 of the I.T. Act, 1961. The Ld. CIT(A) confirmed the addition and dismissed the appeal of assessee.

3.

Learned Counsel for the Assessee seeks permission to withdraw the appeal and an endorsement is made on the appeal paper.

4.

In view of the facts of the case and statement of Counsel for Assessee, the appeal of assessee is dismissed as withdrawn.

5.

In the result, appeal of Assessee dismissed.

3 ITA.No.4495/Del./2016 Shri Balwant Singh Bindra, New Delhi. Order pronounced in the open Court.

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