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Facts
The assessee, an association of persons, deposited Rs. 61,16,200/- in cash during the assessment year 2015-16 but did not file a return of income initially. The Assessing Officer added this amount as unexplained income. The assessee failed to provide satisfactory evidence regarding the genuineness of the cash deposits.
Held
The Tribunal held that the assessee failed to discharge its onus to establish the source and nature of the cash deposits, and no material was submitted in the appellate proceedings. Therefore, the matter was restored to the Assessing Officer to provide another opportunity.
Key Issues
Whether the cash deposits made by the assessee were unexplained and whether the assessee was denied adequate opportunity of hearing and entitled to deductions under section 80P.
Sections Cited
69A, 148, 143(2), 142(1), 80P
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Income Tax Appellate Tribunal, JAIPUR BENCHES,”B-Bench” JAIPUR
Before: SHRI GAGAN GOYAL, AM & SHRI NARINDER KUMAR, JM
Result
In view of the above discussion, this appeal is disposed of, for statistical purposes and the matter is restored to the files of the Assessing
1. Costs to be deposited in “Prime Minister’s National Relief Fund” and receipt to be produced before the Assessing Officer, even before the commencement of proceedings on restoration of the matter there.
File be consigned to the record room after the needful is done by the office. Order pronounced in the open court on 13/11/2025.