DIVESH KUMAR,BAREILLY vs. ACIT CENTRAL, BAREILLY

ITA 389/LKW/2023Status: DisposedITAT Lucknow28 November 2024AY 2019-20Bench: SHRI ANADEE NATH MISSHRA (Accountant Member)10 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee failed to provide satisfactory explanation for the seized cash. The addition made by the Assessing Officer and confirmed by the CIT(A) was upheld.

What were the facts?

During the 2019 General Election, Rs. 2,66,000 in cash was seized from the assessee's vehicle. The assessee claimed it was from credit sales of fertilizers but failed to provide documentary evidence.

What were the issues?

Whether the seized cash constituted unexplained income under Section 69A and if Section 115BBE was correctly applied for taxation.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH “SMC”, LUCKNOW

Before: SHRI ANADEE NATH MISSHRA

For Respondent: Shri Sanjeev Krishna Sharma, Addl

PER ANADEE NATH MISSHRA, A.M.:

This appeal has been filed by the assessee against the order of the Ld. CIT(A), Lucknow-3 dated 16.02.2023 for the assessment year 2019-20. The grounds of appeal of the assessee are as under: -

“1 The Learned Commissioner of Income Tax (Appeals) has erred in confirming an addition of Rs. 266000/- made by the Assessing Officer with total disregard to the facts and circumstances of the case.

2.

The Learned Commissioner of Income Tax (Appeals) has erred in confirming the addition of Rs. 2,66,000/- u/s 69A of Income Tax Act without finding a fault with the details filed by the assessee.

3.

The Entire addition has been confirmed by the Commissioner of ¢ Income Tax

The order continues below.

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