DINESH KUMAR PATEL SUNITHA ,TIRUCHIRAPALLI vs. ITO, WARD 1(3), TRICHY, TRICHY

आदेश / O R D E R

Commissioner of Income Tax (Appeals), National Faceless

Appeal Centre (NFAC), Delhi vide appeal No.

ITBA/NFAC/S/250/2023-24 / 1057092868(1) dated 16.10.2023.

The assessment was framed by the Income Tax Officer, Ward-

1(3), Trichy, for assessment year 2017-18 u/s.143(3) of the

Income Tax Act, 1961 (hereinafter ‘the Act”) vide order dated

26.11.2019. The sole grievance of the assessee is confirmation

of addition of Rs.12.50 Lacs which represent cash deposited by

the assessee during demonetization period. The registry has

noted delay of 14 days in the appeal which stand condoned.

2 ITA No. 1639/Chny/2023

that the deposits of Rs.12.50 Lacs were sourced out of gifts,

interest and commission income. The same has been tabulated

in para 4 of the order. However, in the absence of any

satisfactory documentary evidences forthcoming from the

assessee, Ld. AO added the amount of Rs.12.50 Lacs to the

income of the assessee. The addition was confirmed by Ld.

CIT(A) since the assessee failed to make any representation.

Aggrieved, the assessee is in further appeal before me. The Ld. AR has pleaded for deletion of impugned addition which has

been opposed by Ld. Sr. DR.

Commission in its return of income which has been accepted by

Ld. AO. This is stated to be one of the sources of cash deposit

to the extent of Rs.3 Lacs. When the income has been

accepted, the same has to be accepted as the source of

deposit. Further the deposit of Rs. 1 Lacs is stated to be

sourced out of opening cash balance. The same is also not in

dispute. Therefore, I delete the addition to the extent of Rs.4 Lacs and sustain the balance additions since the same has

remained unsubstantiated.

3 ITA No. 1639/Chny/2023

Sd/- (महावीर �संह) (Mahavir Singh) उपा�य�/ Vice-President चे$नई/Chennai, %दनांक/Dated 21.02.2024 DS

आदेश क� ��त)ल*प अ+े*षत/Copy to: 1. Appellant 2. Respondent 3. आयकर आयु,त/CIT 4. *वभागीय ��त�न/ध/DR 5. गाड� फाईल/GF.