Chemban Moideen Kutty vs. Income Tax Officer – 3

Parties Involved

Facts Summary

The assessee, Chemban Moideen Kutty, filed an appeal against the order of the National Faceless Appeal Centre, Delhi, dated 10.11.2023, for the Assessment Year 2017-18. The assessee contested the addition of Rs. 28,73,500/- made by the Assessing Officer during the demonetization period, which was added as unexplained money under section 69A of the Income Tax Act, 1961. The assessee argued that the amount had already been accounted for in the profit and loss account as income and that any further addition would result in double counting. The learned Advocate for the assessee submitted that the amount had been declared in the assessee's return of income and uploaded on the income tax portal during the assessment.…

Legal Issues

• 1. Whether the addition of Rs. 28,73,500/- made by the Assessing Officer during the demonetization period is justified.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• HETAAL JASWANTRAI PAREKH Vs. INCOME TAX OFFICER

  Mumbai bench

• Chetan Bipin Sanghrajka vs. DCIT

  Mumbai bench

• ITA No. 277/CTK/2024

  Cuttack bench

• Rajkumar Mittal Vs. Income Tax Officer, Ward-2(1), Ranchi

  Ranchi bench

• Suvasis Panja Vs ITO Ward-27(1), Haldia

  Kolkata benchAY 2017-2018Partly Allowed

• New Saha Dyers And Processors Vs. DCIT, Circle 46(1)

  Kolkata Bench benchAY 2017-18Allowed