Income Tax Officer, Ward-51(5), Delhi vs. Vipin Mittal

Parties Involved

Facts Summary

The appeal in ITA No.5457/Del/2024 for AY 2017-18, arises out of the order of the ld National Faceless Appeal Centre (NFAC), Delhi dated 21.06.2024 against the order of assessment passed u/s 144 of the Income-tax Act, 1961 dated 06.12.2019 by the Assessing Officer, ITO, Ward-51(5), Delhi. The revenue's appeal was delayed by 87 days but was condoned in the interest of substantial justice. The Assessing Officer had added ₹2,55,83,888/- u/s 69A of the Act as unexplained money. The assessee had deposited cash during demonetization and other credits in HDFC Bank and Oriental Bank of Commerce. The assessee did not file his return of income for AY 2017-18 initially but later filed it on 05.12.2019. The Assessing Officer treated the total credits as unexplained money due to lack of documentary evidence. Before the ld CIT(A), the assessee furnished additional evidences explaining the credits, which were admitted by the ld CIT(A) but not verified by the AO.…

Legal Issues

• 1. Addition of ₹2,55,83,888/- u/s 69A of the Act as unexplained money.

Judgment Outcome

Decided in favour of Revenue.

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