HUKAM SINGH NEGI,HIMACHAL PRADESH vs. INCOME TAX OFFICER RAMPUR, HIMACHAL PRADESH
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आयकर अपील�य अ�धकरण,च�डीगढ़ �यायपीठ, च�डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’, CHANDIGARH BEFORE SHRI RAJPAL YADAY, VICE PRESIDENT & SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 673/CHD/2024 �नधा�रण वष� / Assessment Year : 2017-18 Hukam Singh Negi, Vs. ITO, बनाम Village Sungra Nichar, Rampur, Kinnaur 172115 Himachal Pradesh �थायी लेखा सं./PAN No: ABUPN3680Q अपीलाथ�/Appellant ��यथ�/Respondent ( Physical Hearing ) �नधा�रती क� ओर से/Assessee by : Sh. M.R. Sharma, Advocate राज�व क� ओर से/ Revenue by : Sh. Vivek Vardhan, JCIT, Sr.DR सुनवाई क� तार�ख/Date of Hearing : 27.11.2024 उदघोषणा क� तार�ख/Date of Pronouncement : 28.11.2024 आदेश/Order Per Rajpal Yadav VP: The present appeal is directed at the instance of the Assessee against the order of ld. Addl./JCIT(A)-7, Kolkata dated 19.4.2024 passed for A.Y. 2017-18.
The grievance of the Assessee is that the ld. CIT(A) erred in confirming the addition of Rs. 3,13,000/- which was added by the Assessing Officer with the aid of section 68 of the Income Tax Act, 1961 (in short 'the Act').
673 -Chd-2024- Hukam Singh Negi, Kinnaur 2 3. With the assistance of ld. representatives, we have gone through the record carefully. A perusal of the assessment order would indicate that Assessing Officer has noticed that Assessee deposited Rs. 2,56,500/- in his saving bank account with HP State Co-operative Bank Ltd., Bhahanagar. Similarly, he found that a sum of Rs. 56,500/- was deposited in the saving bank account with Punjab National Bank. The Assessing Officer was of the view that these deposits were made during the demonetization period, then this be treated as unexplained money of the Assessee.
Appeal to the ld. CIT(A) did not bring any relief because the ld. CIT(A) has dismissed the appeal for want of prosecution.
After going through record carefully, we are of the view that this addition is not sustainable because a small sum of Rs. 3,13,000/- can be a past accumulation in the family. Once currency of denomination of Rs. 1000 and Rs. 500 were discontinued, then currency of these denomination available in the house is to be deposited in the bank, therefore, such a small amount cannot be considered as unexplained.
We allow the appeal and delete the addition.
Order pronounced on 28.11.2024
Sd/- Sd/- ( KRINWANT SAHAY ) ( RAJPAL YADAV ) Accountant Member Vice President
673 -Chd-2024- Hukam Singh Negi, Kinnaur 3 “आर.के.” आदेश क� ��त�ल�प अ�े�षत / Copy of the order forwarded to : 1. अपीलाथ�/ The Appellant 2. ��यथ�/ The Respondent 3. आयकर आयु�त/ CIT 4. �वभागीय ��त�न�ध, आयकर अपील�य आ�धकरण, च�डीगढ़/ DR, ITAT, CHANDIGARH 5. गाड� फाईल/ Guard File आदेशानुसार/ By order, सहायक पंजीकार/ Assistant Registrar
