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Income Tax Appellate Tribunal, PUNE “SMC” BENCH : PUNE
Before: SHRI SATBEER SINGH GODARA
Date of Hearing : 23.04.2024 Date of Pronouncement : 14.05.2024 ORDER
This assessee’s appeal for assessment year 2014-15, arises against the Addl/JCIT(A), Udaipur, Udaipur’s Din and Order No.ITBA/APL/S/250/2023-24/1060138088(1), dated 25.01.2024, in proceedings u/s.144 of the Income Tax Act, 1961 (in short “the Act”).
Case called twice. None appears at assessee’s behest. He is accordingly proceeded ex-parte.
The assessee’s sole substantive grievance raised in the instant appeal challenges correctness of both the learned lower authorities action making sec.68 unexplained cash credit addition(s) of Rs.12,00,468/- i.e., total cash deposits of 2 ITA.No.570/PUN./2024 Rs.23,41,350/- reduced by the declared business receipts of Rs.11,40,882/-; respectively.
Learned DR failed to dispute that the possibility of the assessee’s past savings and accumulations keeping in mind his socio-economic status could not be altogether ruled out. The fact also remains that the assessee has not discharged his onus of pleading and proving the source of the impugned cash deposits.
Faced with this situation, I deem it appropriate to confirm the impugned addition of Rs.12,00,468/- only to Rs.7 lakhs with a rider that the same shall not be treated as a precedent in other case(s). The assessee gets relief of Rs.5,00,468/- in otherwords. Necessary computation shall follow as per law. Ordered accordingly.
This assessee’s appeal is partly allowed for statistical purposes in above terms.
Order pronounced in the open Court on 14.05.2024.