RAKESH KUMAR,BARABANKI vs. INCOME TAX OFFICER, WARD 5(5), BARABANKI

The appeal of the assessee stands partly allowed

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2017-18 Rakesh Kumar V. The Income Tax Officer Naka Paisar Ward 5(5) Deen Dayal Nagar Barabanki Barabanki (U.P) Tan/Pan:Awkpk2247F (Applicant) (Respondent) Applicant By: Shri Rakesh Garg, Advocate Respondent By: Shri R.R.N. Shukla, D.R. O R D E R This Appeal Has Been Preferred By The Assessee Against The Order Dated 27.12.2023, Passed By The National Faceless Appeal Centre, Delhi (Nfac) For Assessment Year 2017-18. 2.0 The Brief Facts Of The Case Are That The Assessee Had Not Filed The Return Of Income For The Year Under Consideration. The Income Tax Department Was In Possession Of Information That The Assessee Had Deposited Rs.11,40,000/- During The Demonetization Period, I.E., From 09.11.2016 To 30.12.2016 In His Bank Account No.752530110000014 Maintained With Bank Of India, Subeha Bazar, Haidergarh. Thereafter, The Assessing Officer (Ao) Issued Statutory Notices To The Assessee, Requiring The Assessee To Explain The Source Of Cash Deposits In His Bank Account. Since There Was No Compliance From The Side Of The