Aditya Vikram Podder vs Income Tax Officer, Ward-3(1), Coimbatore

Parties Involved

Facts Summary

The appellant, Aditya Vikram Podder, filed a return of income for the Assessment Year 2017-18 disclosing an income of Rs.3,40,210/-. The assessment was completed by the Assessing Officer (AO) on 14.11.2019 under section 143(3) with a total income of Rs.14,40,210/-. The AO made an addition of Rs.11 lakhs for cash deposits in specified bank notes during the demonetization period, alleging that the appellant failed to explain the source of these deposits. Aggrieved by this order, the appellant appealed to the Commissioner of Income Tax (Appeals) [CIT(A)], whose order dismissing the appeal led the appellant to file this appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the CIT(A) was justified in confirming the addition of Rs.11 lakhs made by the AO on account of cash deposits in specified bank notes during the demonetization period.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Shri Pandian Hari Vs. The Income Tax Officer, Non-Corporate Ward 11(4), Chennai

• Dhaval Dinesh Shah vs Income Tax Officer Ward 42(1)(2), Mumbai

• PR & Co. vs. The Income Tax Officer, Ward-2(1), Erode

• Shakti Sales Corporation Vs ITO, Ward-27(3)(1), Mumbai

• Mrs. A. Suganthi v. The DCIT, Circle-1, Salem

• Rajesh Kumar Dalmia Vs Income Tax Officer, Ward 6(1), Kolkata

  Kolkata Bench benchAY 2017-18Partly Allowed