SH. SANJAY GODHA,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR, JAIPUR

ITA 539/JPR/2024Status: DisposedITAT Jaipur29 August 2024AY 2017-18Bench: DR. S. SEETHALAKSHMI (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had discharged the burden of proof by explaining the source of the cash deposit as earlier withdrawals. The Tribunal found that the department failed to provide evidence that the cash was utilized elsewhere, and therefore, the addition was not sustainable.

What were the facts?

The assessee deposited Rs. 55,30,000/- in cash during the demonetization period. The Assessing Officer (AO) treated this as unexplained income under Section 69A, citing a mismatch in cash accounts and a prior search operation. The Commissioner of Income Tax (Appeals) upheld the AO's decision.

What were the issues?

Whether the cash deposited during demonetization is unexplained income, and if Section 115BBE is applicable to the assessment year.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 143(3),Section 142(1),Section 132

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(9)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, JAIPUR BENCHES,”B” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 539/JP/2024

For Appellant: CA jktLo dh vksj ls@
Hearing: 05/08/2024Pronounced: 29/08/2024

PER: RATHOD KAMLESH JAYANTBHAI, AM

Because the assessee was dissatisfied with the finding so recorded in the order of the Commissioner of Income Tax (Appeals)-4, Jaipur dated 26/02/2024 [here in after ld. CIT(A) ] for assessment year 2017-18, the present filed before this tribunal. The said order of the ld. CIT(A) arises because the assessee preferred an appeal before him against the order dated 20/11/2019 passed under section

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 69A

All 15,297 judgments and leading authorities on Section 69A →

Recent GST High Court judgments

Search GST case law →