Jaideep Khanduja vs Income Tax Officer

Parties Involved

Facts Summary

The assessee’s appeal for Assessment Year 2017-18 arises against the Addl./JCIT( A)-10, Mumbai’s DIN & order No. ITBA/APL/ S/250/2025-26/1082052827(1) dated 28.10.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961. The lower authorities held the assessee’s cash deposits during demonetization amounting to Rs.15,81,500/- as unexplained to the extent of Rs.13,20,000/-. The assessee argued that the deposits represented previous withdrawals and past accumulated savings, but failed to satisfy the lower authorities.…

Legal Issues

• 1. Unexplained cash deposits during demonetization.
• 2. Assessment under Section 115BBE.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Shubira Prasad Vs Income Tax Officer

• Shagun Dhawan vs. Addl./JCIT

  Delhi Bench benchAY 2017-18Partly Allowed

• Co-operative Cane Development Union Ltd. Sambhaoli, Hapur, Uttar Pradesh-245207 Vs Income Tax Officer, Ward-2(3)(4), Hapur, U.P. -245207

• Sh. Karan Oberoi Vs. Income Tax Officer, Ward-1(4), Faridabad

• Sh. Baldev Prasad Yadav Vs. Income Tax Officer, Ward-1(2), Faridabad

  Delhi Bench benchAY 2010-11Allowed

• Ajay Kumar vs Income Tax Officer

  Delhi Bench ‘SMC’, New Delhi benchAY 2012-13Partly Allowed