Bhupendra Kumar Phoolchand Bind vs. Income Tax Officer 1(1)

Parties Involved

Facts Summary

The appellant, Bhupendra Kumar Phoolchand Bind, filed his return of income for the Assessment Year 2017-18 on 22.03.2018, declaring a total income of Rs. 4,00,820/-. A notice under section 143(2) was issued on 21.09.2018 and served on the assessee. Subsequently, notices under section 142(1) were issued on 22.05.2019, 11.07.2019, and 07.10.2019, requesting the assessee to explain the source of cash deposited in the banks along with supporting documentary evidence. The assessee failed to submit any explanation in response to these notices. A show cause notice was issued on 19.11.2019, and a best judgment assessment was passed under section 144 of the Income Tax Act, 1961, adding an amount of Rs. 5,70,243/- being 10% of Rs. 1,92,828/-. Penalty proceedings were also initiated. The order was challenged in appeal before the Commissioner of Income Tax (Appeals), who dismissed the appeal. The assessee then filed an appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the Commissioner of Income Tax (Appeals) erred in passing an ex-parte order without adjudicating the grounds of appeal on merit?
• 2. Whether the Commissioner of Income Tax (Appeals) erred in confirming the addition of Rs. 1,37,13,000/- under section 69A of the Income Tax Act, 1961?
• 3. Whether the provisions of section 69A of the Income Tax Act, 1961 are applicable on deposits of cash received during the course of business of Money Transfer Activity carried on commission basis?
• 4. Whether the Commissioner of Income Tax (Appeals) erred in confirming the addition of business income of Rs. 1,92,828/- on the presumed rate of 10% on amounts of deposit in bank account during the period other than demonetization period?
• 5. Whether the Commissioner of Income Tax (Appeals) erred in confirming charging of interest under section 234A and 234B of the Income Tax Act, 1961?
• 6. Whether the Commissioner of Income Tax (Appeals) erred in confirming invocation of penalty provisions under sections 271AAC, 271B, 271A, 270A, and 272A(1)(d) of the Income Tax Act, 1961?

Judgment Outcome

Decided in favour of Assessee.

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