ITA No. 235/CHD/2024 - Ramesh Chander Mahajan

Parties Involved

Facts Summary

The assessee, Ramesh Chander Mahajan, filed an appeal against the addition of Rs. 33,32,734/- made by the Commissioner of Income Tax (Appeals) under the head 'Income from other Sources' for the Assessment Year 2017-18. The addition was based on the difference between the income reported in the Income Tax Return and the Tax Audit Report. The assessee argued that the addition was unjustified as the income from other sources was repaid to the third party from whom the loan was taken. The assessee also contended that he had filed the appeal late due to health issues and a disruption in his support system. The Tribunal considered the assessee's arguments and found that the Commissioner's order was not justified.…

Legal Issues

• 1. Whether the addition made by the CPC under section 143(1)(a)(iii) of the Income Tax Act, 1961 is justified.

Judgment Outcome

Decided in favour of Assessee.

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