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Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA
Before: Shri S.S, Godara
आदेश /O R D E R This assessee’s appeal for assessment year 2015-16, arises against the Commissioner of Income-tax (Appeals)-12, Kolkata’s order dated 01.08.2018 passed in case No.10191/CIT(A)-12/Kol/2017-18, involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.
The assessee’s sole substantive ground seeks to challenge both the lower authorities’ action adding entire cash deposits of ₹10 lac to be undisclosed income. Mr.Roy’s only argument during the course of hearing is that an amount of ₹5,79,307/- out of ₹ 10 lac in issue already stood disclosed as business turnover. Mr. Singh’s case before me on the other hand is that this latter plea of turnover disclosure requires factual verification. I therefore restore the assessee’s instant latter argument claiming Ganesh Ch. Sadhu Vs. ACIT, Cir-41, Nadia Page 2 ₹5,79,307/- as business turnover to the Assessing Officer for factual verification and affirm the balance addition of ₹4,20,693/- out of ₹ 10 lac as undisclosed income.