UPENDRA KUMAR SHARMA,NEW DELHI vs. ACIT, CIRCLE-5(2)(1), NOIDA
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2018-19, arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2025-26/1079142876(1) dated 31.07.2025, in proceedings u/s 147 of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
Coming to the sole substantive issue between the parties herein, it is noticed from the case record that both the learned lower authorities have treated an amount of Rs.6,00,000/- kept in the assessee’s locker as unexplained u/s 69A r.w.s. 115BBE of the Act. Upendra Kumar Sharma
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4. Learned departmental representative vehemently argues that the impugned addition has been rightly made in the assessee’s hands on account of his failure to explain source thereof all along.
Faced with this situation, learned counsel has filed the assessee’s detailed paper book indicting him as one of the director in M/s Suryansh Diamonds Pvt. Ltd. having cash in hand of Rs.21,72,627/- as on 31.03.2017 which has gone un- rebutted from the Revenue side. That being the case, the tribunal hereby hodls that the assessee has duly explained the source of the impugned cash of Rs.6,00,000/- kept in locker as attributable to his company cash in hand. The impugned addition is directed to be deleted in very terms.
This assessee’s appeal is allowed. Order Pronounced in the Open Court on 23/09/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 23/09/2025
*Subodh Kumar, Sr. PS*