JASHUBHAI MANJIBHAI PATEL,SURAT vs. ITO, WARD-1, BARDOLI

ITA 845/SRT/2024Status: DisposedITAT Surat23 April 2025AY 2017-18Bench: SHRI BIJAYANANDA PRUSETH (Accountant Member), SHRI DINESH MOHAN SINHA (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the assessee failed to provide sufficient evidence to prove that the cash withdrawals, allegedly made by his son, were indeed available as cash on hand for the deposit. However, the Tribunal directed that the addition should be taxed at the normal rate of tax and not under Section 115BBE, as its amended provisions are not retrospective.

What were the facts?

The assessee deposited Rs. 10,00,000/- in his bank account during the demonetization period. The Assessing Officer (AO) added this amount as unexplained cash credit, disallowing the assessee's explanation that it was out of earlier cash withdrawals. The CIT(A) upheld the AO's order.

What were the issues?

Whether the cash deposit during demonetization was an unexplained cash credit, and whether Section 115BBE could be applied retrospectively to the addition.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 143(2)

AI-generated summary — verify with the full judgment below

Before: SHRI BIJAYANANDA PRUSETH & SHRI DINESH MOHAN SINHA

For Appellant: Ms. Dalzin Madan, CA
For Respondent: Shri Mukesh Jain, Sr.DR
Hearing: 05/02/2025Pronounced: 23/04/2025

PER BIJAYANANDA PRUSETH, AM: This appeal by the assessee emanates from the order passed under section 250 of the Income-tax Act, 1961 (in short, ‘the Act’) dated 21.12.2023 by the Commissioner of Income-tax (Appeals)/ National Faceless Appeal Centre, Delhi [in short, ‘CIT(A)’] for the Assessment Year (AY) 2017-18. 2. Grounds of appeal raised by the assessee are as under:

“1. On the facts and circumstances of the case as well as law on the subject, the learned Assessing Officer has erred in making addition on issue other than the issue mentioned in the notice u/s 143(2) where the case of the assessee has been sele

The order continues below.

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