Anand Singh vs. ITO 69(5), Delhi
Case No: ITA NO. 1022/Del/2024
Court: Income Tax Appellate Tribunal, Delhi Bench
Date: 2/20/2025
Parties Involved
appellantAnand Singh
respondentITO 69(5), Delhi
Facts Summary
The assessee, Anand Singh, deposited cash of Rs. 30,19,000/- in his savings bank account. The Assessing Officer (AO) was not satisfied with the source of the cash deposits, which included Rs. 6,44,000/- from the sale of commodities and Rs. 7,50,000/- from the sale of a plot. Consequently, the AO made an addition of Rs. 13,94,000/-. In appeal before the Commissioner of Income Tax (Appeals) (CIT(A)), the assessee provided an affidavit from his brother stating that Rs. 6,44,000/- was a gift from ag…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the AO erred in making an addition of Rs. 13,94,000/- without considering the submissions and evidence regarding the source of deposits.