ITO, MEERUT vs. SHRI GAURAV BANSAL, MEERUT

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ITA 5286/DEL/2014Status: DisposedITAT Delhi22 December 2015AY 2009-102 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeal filed by the Revenue was not maintainable as the tax effect was below the monetary limit prescribed by the CBDT, and the Instruction was applicable retrospectively to pending appeals.

What were the facts?

The Revenue appealed against the deletion of an addition made by the AO for unexplained cash deposit. The assessee argued that the tax effect was below the monetary limit prescribed by CBDT Instruction No. 21/2015, making the appeal non-maintainable.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal due to the tax effect being below the monetary limit prescribed by CBDT instructions.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES, NEW DELHI

Before: SHRI I.C. SUDHIR & SHRI PRASHANT MAHARISHI

Hearing: 15.12.2015Pronounced: 22.12.2015

ORDER

Per Prashant Maharishi, Accountant Member:

This appeal has been preferred by Revenue against the order of CIT(A), Meerut dated 04.07.2014 for the assessment year 2009-10, challenging the deletion of addition of Rs.15,84,800/- made by the AO u/s. 69A of the IT Act on account of unexplained cash deposit in Bank.

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