Bhai Bhai Co vs. ITO, Ward 1(2), Siliguri
Case No: I.T.A. No. 2097/Kol/2024
Court: Income Tax Appellate Tribunal 'C' Bench, Kolkata
Date: 9/1/2025
Parties Involved
appellantBhai Bhai Co
respondentITO, Ward 1(2), Siliguri
Facts Summary
This appeal arises from an order dated 21.03.2024 passed under section 250 of the Income Tax Act, 1961 by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi. The Assessing Officer (AO) made an addition of Rs. 62,00,000/- under section 68 of the Act, which constituted cash withdrawals made by the assessee from his own bank account over a period of time. The case was selected for scrutiny to verify substantial cash deposits during the demonetisation period.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) was justified in confirming the addition of Rs. 62,00,000/- made by the AO on account of withdrawal from bank by wrongly invoking the provisions of section 68 of the Act.