Income Tax Officer, Ward 1, Kottayam v. Sunitha Menon

Parties Involved

Facts Summary

The case arises from an order of the Commissioner of Income-tax (Appeals) / NFAC in proceedings under section 143(3) of the Income-tax Act, 1961. The appellant, Income Tax Officer, Ward 1, Kottayam, appealed against the order of the Commissioner of Income-tax (Appeals) / NFAC, which reversed the assessment finding by adding unexplained cash deposits of Rs.76,08,000 made during the demonetization period. The respondent, Sunitha Menon, argued that the Commissioner of Income-tax (Appeals) / NFAC erred in law and on facts by reversing the assessment finding. The respondent submitted that the sales were accepted by the Assessing Officer, the books of account were not rejected under section 145(3), and only profit on turnover could be assessed as the amount on genuine purchases had to be allowed. The respondent cited judicial pronouncements to support her argument.…

Legal Issues

• 1. Whether the Commissioner of Income-tax (Appeals) / NFAC erred in law and on facts by reversing the assessment finding by adding unexplained cash deposits of Rs.76,08,000 made during the demonetization period?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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