ITA No. 1253/KOL/2025 & CO No. 74/KOL/2025

Parties Involved

Facts Summary

The assessee, Dilip Kumar Ghosh, is an individual and Director of Jagatbandhu Tea Estate Pvt. Ltd., which is engaged in growing tea and allied activities. The assessee filed the return of income for the year 2017-18 declaring total income at ₹6,06,140/-. A search action was conducted on 25.09.2020 at the premises of Agarwal Group of cases Ranchi/ Kolkata, and the assessee, being a close associate of the group, was also covered under the said search. During the search, certain incriminating materials were found and seized, marked as DKG-01 to DKG-09. The assessee submitted that the documents seized during the search revealed that these documents contained entries recorded in the books of account of M/s Jagatbandhu Tea Estate Pvt. Ltd., of which the assessee is a director and is being supervised by him. It was also submitted that these transactions were fully accounted for in the books of accounts maintained by that entity. However, the Assessing Officer rejected the contention of the assessee and added the entire amount pertaining to this year amounting to ₹1,48,86,218/- u/s 69A of the Act as unexplained money in the assessment framed u/s 153A of the Act dated 31.03.2022.…

Legal Issues

• 1. Whether the addition of ₹1,48,86,218/- made by the Assessing Officer u/s 69A read with section 115BBE of the Income-tax Act, 1961, on account of unaccounted cash receipts and payments is justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

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  Kolkata Bench benchAY 2021-2022Allowed

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  Kolkata Bench benchAY 2011-12Dismissed

• Colourful Estates Pvt. Ltd. vs DCIT

  Delhi 'B' Bench: New Delhi benchAY 2011-12 to 2012-13Allowed

• DCIT, Central Circle-03, New Delhi vs. Kunjan Arora

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• Sh. Dilip Chadha Vs. DCIT, Circle-32, New Delhi

• Shri Dheeraj Chaudhary vs The A.C.I.T.

  Delhi ‘F’ Bench benchAY 2015-16Partly Allowed