PRAGYA PANDHI,DELHI vs. ITO WARD 71 (1), DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2017-18
arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2025-26/1080875131(1) dated 18.09.2025, in proceedings u/s 147 of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
Coming to the assessee’s sole substantive grievance raised in the instant appeal, a perusal of the case file indicates that both the learned lower authorities have held him/her as not to have successfully explained an amount of Rs.7,00,000/- invested in cash while purchasing the residential property in question, in assessment order dated 27.03.2022 as upheld in the lower appellate discussion. Pragya Pandhi
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4. That being the case, learned departmental representative could hardly dispute that the assessee is a salaried employee all along wherein past accumulated savings in cash with self and family members could not be altogether ruled out keeping in mind the socio economic status. The fact also remains that it was the assessee’s onus only to plead and prove all the relevant facts to this effect by filing a cogent explanation/evidence in both the lower proceedings. Be that as it may, it is deemed appropriate that a lump sum addition of Rs.1,00,000/- only in the given facts would be just and proper with a rider that the same shall not be treated as a precedent.
The assessee gets relief of Rs.6,00,000/- in other words.
Necessary computation shall follow as per law.
So far as assessee’s assessment under Section 115BBE is concerned, I 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. The assessee is accordingly directed to be assessed under normal provisions only. Pragya Pandhi
3
6. This assessee’s appeal is partly allowed.
Order Pronounced in the Open Court on 23/12/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 23/12/2025
*Subodh Kumar, Sr. PS*