Section 249(2) of the Income Tax Act

Akash Jain, Kolkata vs. I.T.O., Ward - 32(3), Kolkata

The appeal of the assessee is allowed for statistical purposes

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No.2248/Kol/2024 Assessment Year: 2017-18 Akash Jain………………………………..……………………….....Appellant C/O Subash Agarwal & Associates, Advocate Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aoipj6380C] Vs. Ito, Ward-32(3), Kolkata……….……….…............................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Ar, Appeared On Behalf Of The Appellant. Shri Sanjay Paul, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 22, 2025 Date Of Pronouncing The Order : January 23, 2025 आदेश / Order Per Sonjoy Sarma: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 18.10.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. Brief Facts Of The Care Are That The Assessee Is An Individual & Did Not File Any Return Of Income U/S 139(1) Of The Act For The Assessment Year 2017-18. An Information Was Received That The Assessee Had Deposited An Amount Of Rs.89,50,000/- In His Bank Account During Demonetization Period. Thereafter, The Case Of Assessee Was Reopened U/S 147 Of The Act By Issuing Notice U/S 148 Of The Act Requesting Thereon To File Return. In Response To Notice U/S 148 Of The Act, The Assessee Submitted Return Declaring Total Income Of Rs.2,37,850/-. Subsequently, Notices U/S 143(2) & 142(1) Of The Act