Dipak Kumar Majumdar

Parties Involved

Facts Summary

The assessee, Dipak Kumar Majumder, filed his return of income declaring income of Rs. 4,22,000/-. The Assessing Officer made an addition of Rs. 14,00,000/- claiming that such amount of cash deposit was made in the Bank account of the assessee. The assessee explained that the cash deposit was made out of sale proceeds of cars/vehicles and cash withdrawn for the purpose of his daughter's marriage ceremony. However, the Assessing Officer did not consider these submissions and made the addition. The assessee then appealed before the Commissioner of Income Tax (Appeals), who dismissed the appeal stating there was no supporting document or evidence in support of the cash deposit. Aggrieved by this, the assessee preferred an appeal before the Tribunal.…

Legal Issues

• 1. Whether the order passed by the ld. CIT(A) on 02.02.2024 is arbitrary, unjustified, and illegal.
• 2. Whether the ld. CIT(A) was wrong in not considering the merit of the case.
• 3. Whether the ld. CIT(A) was wrong in confirming the addition of Rs. 14,00,000/- on account of cash deposited in the bank during the demonetization period.
• 4. Whether the assessee had discharged its onus by furnishing all relevant documents in connection with the source of funds.
• 5. Whether the A.O. was wrong in applying section 115BBE.
• 6. Whether the charging of interest u/s. 234A, 234B, and 234C is arbitrary, unjustified, and illegal.

Judgment Outcome

Decided in favour of Assessee.

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