RAJESH SINGH S/O SH KAPTAN SINGH ,AGRA vs. ITO 2(1)(2), AGRA

This appeal has been preferred by assessee against the impugned order dated 27.11.2024 passed in Appeal No. NFAC/2013-14/10111805 by the Ld. Commissioner of Income-tax (Appeals), NFAC, Delhi u/s. 250 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) wherein the ld. CIT(Appeals) dismissed the first appeal filed by the assessee and confirmed the addition made by Assessing Officer.

Brief facts state that the assessee had filed his return of income on 10.02.2015 declaring total income of Rs.2,28,600/-. On the basis of information in possession of the Assessing Officer that the assessee had deposited cash of Rs.1,31,36,866/- in his bank account maintained with Oriental Bank of Commerce, the Assessing Officer initiated proceedings u/s. 147 of the Act by issuing notice u/s. 148 on 30.03.2021, which was not responded by the Assessee. Statutory notices were issued which too remained un-responded. However, the appellant assessee vide letter dated 03.03.2022 submitted that he started providing transport service to nearby farmers for sale of agriculture produce in the name of Sudarshan Transport Company, for which he used his own truck as well as other vehicles hired from other such service providers on commission basis and the income earned from such business and payments received from outstation customers were deposited in the said bank account and thereafter paid to the respective farmers in cash. Finding the reply of the assessee as not satisfactory, the Assessing Officer made addition of the cash deposit of Rs.1,31,36,866/- u/s. 69A of the Act vide order dated 21.03.2022 passed u/s. 147 r.w.s. 144 and 144B of the Act.

Aggrieved, the assessee preferred an appeal before the learned CIT(Appeals) who confirmed the addition made by the learned Assessing Officer and dismissed assessee’s first appeal.