Gulshan Chawla Vs. Income-Tax Officer, Ward 59(4), New Delhi

Parties Involved

Facts Summary

The appellant/assessee filed an e-return of income-tax declaring a total income of Rs.5,68,839/- on 31.03.2018. The return was processed under Section 143(1) of the Income-Tax Act, 1961 and selected for scrutiny assessment under Section 143(2). Notices under Sections 143(2) and 142(1) were issued, but the assessee failed to comply. Data revealed cash deposits of Rs.75,97,000/- between 9th November 2016 to 30th December 2016. The Assessing Officer made additions of Rs.76,47,000/-, Rs.20,89,000/-, and Rs.1,50,000/-. The appeal against this order was dismissed by the Learned Commissioner of Income-Tax(Appeals)/National Faceless Appeal Centre(NFAC), leading the assessee to file the present appeal.…

Legal Issues

• 1. Confirmation of assessment under Section 143(3) of the Income-Tax Act, 1961
• 2. Addition of Rs.76,47,000/- under Section 69A of the Income-Tax Act, 1961
• 3. Addition of Rs.20,89,025/- under Section 69A of the Income-Tax Act, 1961
• 4. Disallowance of deductions claimed under Chapter VIA, a sum of Rs.1,50,000/-

Judgment Outcome

Decided in favour of Assessee.

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