Jitendra Kumar v. The Income Tax Officer

Parties Involved

Facts Summary

The assessee did not file the return of income for the year under consideration. On the basis of AIMS information that the assessee had deposited cash amounting to Rs.1,00,36,100/- in his Current Accounts No.108902000000034 & 50044550712 maintained with Allahabad UP Gramin Bank and Allahabad Bank respectively and also made cash deposits of Rs.15,51,000/- in his Saving Bank Account maintained with Allahabad UP Gramin Bank, Atarra, Banda, the Assessing Officer initiated proceedings under section 147 of the Income Tax Act, 1961 (hereinafter called “the Act’) after recording the reasons for the same and post-getting approval from the Competent Authority. The assessee did not file the return of income in response to the notice dated 24.03.2021 under section 148 of the Act issued by the Assessing Officer. Thereafter, the Assessing Officer issued notice under section 142(1) of the Act calling upon the assessee to furnish the return of income along with other information as mentioned in the annexure to the said notice. Since there was no response from the side of the assessee to various notices issued by the Assessing Officer, the Assessing Officer completed the assessment as best judgement assessment under section 144 read with 147 of the Act, assessing the income of the assessee as under: Unexplained income u/s 69A of the Act : Rs.1,15,87,100/- Interest Income from Bank : Rs.38,863/- Total Assessed Income : Rs.1,16,25,963/- The Assessing Officer also initiated penalty proceedings u…

Legal Issues

• 1. Dismissal of appeals in limine by the Commissioner of Income Tax (Appeals) without condoning delay in filing the appeals.
• 2. Addition of unexplained income under section 69A of the Income Tax Act, 1961.
• 3. Addition of interest income without giving any finding on merit.
• 4. Penalty levied under section 271AAC of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

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