JIT PAL SINGH Vs. Ward2(2), Gurgaon.

Parties Involved

Facts Summary

The appellant, JIT PAL SINGH, deposited cash amounting to Rs. 20,00,000/- into his bank account during the Financial Year 2011-12, instead of the alleged amount of Rs. 31,00,000/-. The appellant did not file a return of income for the relevant assessment year, leading the Assessing Officer (AO) to issue notices under sections 148 and 142(1) of the Income Tax Act, 1961. The AO issued a notice on 09.05.2018, asking the appellant to prepare a true and correct return of income. In response, Sh. Anil Bansal, FCA, attended on behalf of the assessee on 28.05.2018, but nothing was filed. The National Faceless Appeal Centre (NFAC), Delhi, dismissed the assessee’s appeal for lack of sufficient evidence or convincing explanation.…

Legal Issues

• 1. Whether the Ld. CIT(A) - NFAC erred in confirming the action of Id. AO in completing re-assessment proceedings u/s 147 r.w.s 144 of the Income Tax Act, 1961.
• 2. Whether the Ld. CIT (A) - NFAC erred while calculating the total income of the assessee.
• 3. Whether the Ld. CIT (A) - NFAC erred in initiating penalty u/s 271(1)(c) of the Act.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Art Karat International Limited vs. DCIT

  Delhi Bench ‘B’ benchAY 2017-18Allowed

• DCIT, Central Circle, Delhi vs. Pooja Mittal

  Delhi Bench benchAY 2014-15Dismissed

• Sanjay Narendra Bansal Vs. DCIT-8(2)(1)

  SMC BENCH, MUMBAI benchAY 2014-15Allowed

• Satya Pal Shiv Kumar Vs ACIT, Circle-47(1), New Delhi

  Delhi Bench benchAY 2017-18Allowed

• SANJEEV KUMAR AGGARWAL VS. DCIT, CIRCLE 52(1)

  Delhi Bench ‘A’ New Delhi benchAY 2015-16Allowed

• Jaiswal Tube Centre Pvt. Ltd. Vs. ITO, Ward-7(3), Kolkata

  Kolkata Bench benchAY 2012-13Partly Allowed