UMA SHANKAR VERMA,DELHI vs. ITO, WARD-47(1), DELHI, DELHI

PER SATBEER SINGH GODARA, JM:

This assessee’s appeal for assessment year 2017-18 arises against
Commissioner of Income Tax (Appeals)/NFAC, Delhi’s order dated 17.07.2025
(DIN & Order No. ITBA/NFAC/S/250/2025-26/1078612823(1) in proceedings u/s 143(3) of the Income-tax Act, 1961, hereinafter referred to as the ‘Act’.

Heard both the parties. Case file perused.
2. It transpires during the course of hearing that both the learned lower authorities have treated the assessee’s cash deposits during demonetization amounting to Rs. 28.80 lakhs as unexplained cash credits u/s 68 r.w.s. 115BBE of 2
the Act in assessment order dated 15.12.2019 and upheld in lower appellate discussion.
3. It is in this factual background that the assessee’s counsel draws the tribunal’s attention to para 8 at page 11 in the assessment order that the learned assessing authority has treated 45% of the cash deposits amounting to Rs.
64,00,000/- as unexplained than examining each and every entry vis a vis the corresponding turnover. This clinching factual position has gone unrebutted from the Revenue’s side. The tribunal therefore finds merit in the assessee’s vehement contentions and delete the impugned addition of Rs. 28.80 lakhs made on percentage basis herein in very terms. Ordered accordingly.
4. This assessee’s appeal ITA 4764/Del/2025 is allowed in very terms.
Order pronounced in open court on 22.09.2025. (SATBEER SINGH GODARA)

JUDICIAL MEMBER
Dated: 29.09.2025. *MP*