Amit Chopra vs. The Income Tax Officer

Parties Involved

Facts Summary

The facts of the case are that an AIR information was received indicating that the assessee had made cash deposits amounting to Rs.35,17,115/- in his savings bank account and had not filed his return of income for the year under consideration. Proceedings under section 147 were initiated. The assessee claimed that he was engaged in the business of fruits and vegetables, but failed to provide relevant documents to substantiate this claim. The Assessing Officer concluded that the cash deposits were from unknown sources and not disclosed by the assessee. The ld. CIT(A) dismissed the appeal, but the appellate tribunal allowed the appeal and directed the Assessing Officer to assess the return filed by the assessee as per the provisions of section 44AD.…

Legal Issues

• 1. Whether the addition of Rs. 35,17,115/- as undisclosed income was justified?
• 2. Whether the Assessing Officer was justified in demanding additional documentation?

Judgment Outcome

Decided in favour of Assessee.

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