Jasbir Singh, Delhi vs. ITO, Ward-57(4), Delhi
In the result, the appeal of the assessee is partly allowed
ITA 4929/DEL/2024[2011-12]Status: DisposedITAT Delhi22 May 2026AY 2011-12
Bench: Shri Yogesh Kumar U.S & Shri Manish Agarwal[Assessment Year : 2011-12] Jasbir Singh Vs Ito C/O-9/995, Gandhi Nagar, Ward-57(4) Gandhi Nagar S.O. (East Delhi), Delhi Delhi-110031. Pan-Abmps0071N Appellant Respondent Assessee By Ms. Gunjan Jain, Ca Revenue By Shri Dayainder Singh Sidhu, Cit Dr Date Of Hearing 25.03.2026 Date Of Pronouncement 22.05.2026 Order Per Manish Agarwal, Am : The Present Appeal Is Filed By The Assessee Against The Order Dated 12.07.2024 By Ld. Commissioner Of Income Tax (A), Nfac, Delhi [“Ld. Cit(A)”] In Appeal No. Cit(A), Delhi-19/10474/2018-19 Passed U/S 250 Of The Income Tax Act, 1961 [“The Act”] Arising From The Assessment Order Dated 31.12.2018 Passed U/S 143(3)/147 Of The Act Pertaining To Assessment Year 2011-12. 2. Brief Facts Of The Case Are That The Assessee Is An Individual, Filed His Return Of Income On 18.02.2012, Declaring Total Income Of Inr 1,59,845/-. The Ao Had Information That Assessee Has Two Bank Accounts In Which He Had Made Cash Deposits Of Inr 9,11,38,235/- In Axis Bank, Karol Bagh, New Delhi & Inr 2,41,03,076/- In Indusind Bank, Ashok Vihar, New Delhi & Since The Income Declared By The Assessee Was Not Commensurate With The Cash Deposited In The Bank Account, The Case Of The Assessee Was Re- Opened By Issue Of Notice U/S 148 After Recording The Reasons & Approval From The Competent Authorities. Thereafter, The Ao Had Made The Addition Of Inr 11,52,41,311/- Being Cash Deposits As Unexplained Credit U/S 68 Of The Act.
Section 143(3)Section 148Section 151Section 250Section 292BSection 68
