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Income Tax Appellate Tribunal, “SMC” BENCH, AGRA
Before: HON’BLE SHRI SATBEER SINGH GODARA, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
(िनधा�रणवष� / Assessment Year:2011-12) बनाम/ Shri Gaurav Kumar Income-tax Officer, 2/116, Namner, Agra. Ward 1(1)(1), Agra. Vs. �थायीलेखासं./जीआइआरसं./PAN/GIR No. AWIPK-8979-Q (अपीलाथ�/Appellant) : (� थ� / Respondent) अपीलाथ�कीओरसे/ Appellant by : Sh. Rajni Kant Verma, Adv. – Ld. AR � थ�कीओरसे/Respondent by : Sh. Shailender Shrivastava – Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 21-02-2025 घोषणाकीतारीख /Date of Pronouncement : 22.04.2025 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2011-12 arises out of an order passed by learned Commissioner of Income Tax (Appeals), NFAC, Delhi [CIT(A)] on 15-10-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 147 r.w.s. 144 of the Act on 30-11-2018. In the assessment order, Ld. AO made addition of unexplained cash deposit for Rs.12.36 Lacs for want of any satisfactory explanation from the assessee. The Ld. CIT(A) confirmed the same against which the assessee is in further appeal before us.
From the facts, it emerges that the assessee has filed its return of income on 28-03-2012 declaring interest income of Rs.1.66 Lacs. Apparently, the assessee has disclosed the said bank account in its return of income and it is stated to be engaged in money lending. The perusal of bank statement would show that the assessee is receiving money and paying money to few persons on various occasions. Under these circumstances, in the absence of any contrary finding, the claim of the assessee is to be accepted on merits. Accordingly, the impugned addition stand deleted which renders legal ground academic in nature.
The appeal stand allowed. Order pronounced u/r 34(4) of Income Tax (Appellate Tribunal) Rules, 1963.