AKHILESH KUMAR ,NOIDA vs. ITO WARD 5(1)(1), GAUTAM BUDH NAGAR
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2017-18, arises against the Addl./JCIT(A)-3, Chennai’s DIN & order No.
ITBA/APL/S/250/2025-26/1078500301(1) dated 15.07.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
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.19,00,000/- as unexplained, in the assessment order dated 11.12.2019 and upheld in the lower appellate discussion. Akhilesh Kumar
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4. That being the case, learned counsel invites the tribunal’s attention to page 13 in the lower appellate discussion wherein the assessee has already appears to have withdrawn an amount of Rs.24,63,000/- in F.Y. 2015-16 and F.Y. 2016-17 which has gone un-rebutted from the Revenue side. It is further stated that the assessee himself and his wife are stated to be pensioners only. That being the case, the tribunal finds merit in the assessee’s explanation attributing source of the impugned cash business of Rs.19,00,000/- to his previous withdrawal of Rs.24,63,000/- in very terms.
The Revenue vehement contentions supporting the impugned addition stand rejected therefore.
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*