Baldevbhai L Luhar vs. ITO
Parties Involved
Facts Summary
The assessee, Baldevbhai Lalabhai Luhar, appealed against the order passed by the Commissioner of Income Tax (Appeals) for Assessment Year 2015-16. The appeal was filed against the addition of undisclosed income of Rs.5,85,000/- on account of cash deposits in Dena Bank Account and Rs.54,78,655/- on account of bogus purchases. The assessee claimed that the cash deposits were from the sale of personal gold ornaments of family members and that the purchases were genuine. The Assessing Officer rejected the assessee's claims due to discrepancies and lack of supporting documents.…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of Rs.5,85,000/- on account of cash deposits in Dena Bank Account.
- 2. Confirmation of addition of Rs.54,78,655/- on account of bogus purchases.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
4 precedents cited in this judgement.
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