SHRI SAMEER KUMAR CHHABRA,HISAR vs. PR CIT, HISAR

Heard both the parties at length. Case file perused.

A perusal of the instant case file reveals that the assessee is a registered goshala trust, is aggrieved against both the learned lower authorities’ action treating it’s cash deposits during demonetization of Rs.21,85,000/- as unexplained u/s 69A r.w.s. 115BBE of the Act.

The assessee’s case all along is that the impugned cash deposits infact represent public donations from the society at Gopal Shree Krishan Goshala large. Learned counsel has further invited tribunal’s attention to the fact that although it has been granted registration section 12A r.w.s. 80G registration subsequently, all it’s book results have been duly audited in the relevant previous year wherein source of his cash deposits have been explained which have nowhere been doubted. The fact however remains that the assessee all along has not been able to plead and prove the source of the impugned cash deposits to the entire satisfaction of the learned lower authorities. Be that as it may, the necessary inference prima facie which could arise in such an instance a possibility of public donations would not be altogether ruled out as well. It is thus deemed appropriate in the larger interest of justice that a lump sum addition of Rs.1,85,000/- only would be just and proper with a rider that the same shall not be treated as a precedent. Ordered accordingly. The assessee gets relief of Rs.20,00,000/- in other words.

So far as assessee’s assessment under Section 115BBE is concerned, we quote S.M.I.L.E Microfinance Limited Vs. The ACIT CC-1 in W.P.(MD) No.2078 of 2020 & W.M.P. (MD) No. 1742 of 2020 held that the said provision applied for transactions done on or after 01.04.2017 only.