SHABBIR LOHAR,ALIRAJPUR vs. THE ITO JHABUA, JHABUA

ITA 91/IND/2023Status: DisposedITAT Indore16 May 2023AY 2011-12Bench: SHRI VIJAY PAL RAO (Judicial Member), SHRI B.M. BIYANI (Accountant Member)7 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the bank account was a business cash-credit account and the deposits were part of the declared business turnover. Therefore, no separate addition for the cash deposits was warranted.

What were the facts?

The assessee deposited Rs. 11,50,000/- in a bank account during FY 2010-11. The AO treated this entire amount as unexplained income and made an addition. The assessee contended that the account was a business cash-credit account and the deposits were part of business turnover.

What were the issues?

Whether the cash deposits in the bank account represented unexplained income or were part of the business turnover. Whether the assessment was validly made by the AO.

Which sections of the Income-tax Act were involved?

Section 147,Section 144,Section 142(1),Section 44AD

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI VIJAY PAL RAO & SHRI B.M. BIYANI

For Appellant: Shri Santosh Deshmukh & Parth Jhawar, Ld. AR
For Respondent: Shri Ashish Porwal, Ld. Sr. DR
Hearing: 15.05.2023Pronounced: 16.05.2023

Per B.M. Biyani, A.M.:

Feeling aggrieved by appeal-order dated 04.10.2022 passed by learned Commissioner of Income-Tax (Appeals)-National Faceless Appeal Centre, Delhi [“Ld. CIT(A)”], which in turn arises out of assessment-order dated 06.12.2018 passed by learned ITO, Jhabua [“Ld. AO”] u/s 147 read with section 144 of Income-tax Act, 1961 [“the Act”] for Assessment-Year [“AY”] 2011-12, the assessee has filed this appeal on various grounds mentioned in Appeal-Memo (Form No. 36).

Shri Shabbir Lohar Assessment year 2011-12

2.

Heard the learned Representatives of both sides at length and case-

records perused.

3.

The registry has informed that presen

The order continues below.

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