ACIT v. Gendalal Hazarilal and Co.

Vivek Prahladbhai Patel, Vadodara vs. The Income Tax Officer, Ward-4(1)(10), Vadodara

The appeal of the assessee is allowed

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2017-18 Vivek Prahladbhai Patel The Income Tax Officer, B-302, Balaji Greens, Vs Ward-4(1)(10), B/H Sitaram Complex, Chhani- Vadodara Canal, Vadodara-391740 Gujarat Pan: Babpp7859 N अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Jigar Adhyaru, Ca Revenue By : Shri N.J. Vyas, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 16/05/2024 घोषणा क" तार"ख /Date Of Pronouncement: 31/05/2024 आदेश/O R D E R Per Makarand V. Mahadeokarthis Appeal By The Assessee Is Directed Against The Order Of The Additional/Joint Commissioner Of Income Tax (Appeals)-1 Visakapatnam (Hereinafter Referred As “Cit(A)”), Dated 5-1-2024, For The Assessment Year2017-18, Whereby The Cit(A) Upheld The Addition Made By The Assessing Officer (Hereinafter Referred As “Ao”) Under Section 69A Of The Income Tax Act, 1961 (Hereinafter Referred As “The Act”). Vivek Prahladbhai Patel Vs. Ito Asst. Year : 2017-18

…assessee. In the instant case, the affidavits provided by the assessee's parents, explaining the source of cash deposits, were disregarded without any substantial counter evidence. 9. Moreover, the Gujarat High Court in Ranchhodbhai J. Thakkar v. CIT [2003] 263 ITR 679 (Guj) has held that when the assessee provides a plausible explanation supported by affidavits, it is the duty of the revenue to conduct proper verification before making any adverse conclusion. In the present case, neither the AO nor the CIT(A) conducted any verification of the affidavits, or the claims made therein. 10. In view of the above, w…