SUMIT PRAKASHRAO FULZELE,CHANDRAPUR vs. ITO WARD 2 , CHANDRAPUR
In the result, appeal filed by the assessee is allowed
ITA 35/NAG/2024[2017-18]Status: DisposedITAT Nagpur18 Nov 2024AY 2017-18
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe
Section 115BSection 142(1)Section 144Section 250Section 69A
207 (SC) wherein it was held that High Court upheld reassessment in case where assessee had made a deposit of cash in bank during demonetization period, which was reflected in his return of income, but no supporting evidences were available to prove source of such deposit leading to 'reason to believe that income otherwise chargeable to tax had escaped assessment
