ABHAY HARGOVINDBHAI PATEL,JAMNAGAR vs. THE INCOME TAX OFFICER, JAMNAGAR

ITA 17/RJT/2024Status: DisposedITAT Rajkot16 July 2025AY 2017-1813 pages
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What did the Tribunal hold?

The Tribunal held that while the entire cash deposit could not be treated as profit, a portion representing 'on-money' should be taxed. The addition was confirmed at 30% of the total cash deposit, amounting to Rs. 12,05,070/-.

What were the facts?

The assessee deposited a significant amount of cash in their bank account during the demonetization period. The Assessing Officer initiated assessment proceedings under Section 144 due to the assessee's failure to file a return of income or provide explanations.

What were the issues?

Whether the cash deposited during demonetization is unexplained income and how much of it should be taxed. The assessee's failure to cooperate with assessment proceedings was also a factor.

Which sections of the Income-tax Act were involved?

Section 144,Section 69A,Section 115BBE,Section 142(1),Section 139,Section 272A(1)(d),Section 274

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, RAJKOT BENCH, RAJKOT

Before: DR. ARJUN LAL SAINI, AM. &

For Appellant: Shri Vimal Desai, Ld. AR
For Respondent: Shri K. L. Solanki, Ld. Sr. (DR)
Hearing: 27/04/2025Pronounced: 16/07/2025

Per, Dr. Arjun Lal Saini, AM: Captioned appeal filed by the assessee, pertaining to Assessment Year 2017-18, is directed against the order passed by Commissioner of Income Tax (Appeals), vide order dated 08/11/2023, which in turn arises out of an order passed by the Assessing Officer, dated 26/11/2019, u/s 144 of the Income Tax Act, 1961. Page 1 Abhay Hargovindbhai Patel 2.Grounds of appeal, raised by the assessee, are as follows:

1.

The assessment order passed u/s. 144 is bad in law.

2.

The learned Assessing Of

The order continues below.

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