Kaushik Mondal vs. Income Tax Officer

Parties Involved

Facts Summary

This appeal arises from an order dated 21.03.2024, passed under section 250 of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi. The Assessing Officer (AO) issued notices to the assessee for eliciting a response to queries, but there was no response. Consequently, several additions were made to the returned income. The assessee primarily challenged the addition of Rs. 35,69,000/- made on account of deposits in the bank under section 69A of the Act. The assessee claimed that the deposits were gifts from close family relatives, but this explanation was rejected by the Ld. CIT(A). The assessee filed this appeal on several grounds, including the arbitrary nature of the additions and the failure to provide a specific show cause notice.…

Legal Issues

• 1. Whether the addition of Rs. 35,69,000/- under section 69A of the Income Tax Act, 1961 was justified.
• 2. Whether the explanation provided by the assessee regarding gifts from close family relatives was valid.
• 3. Whether the addition of Rs 10 lacs under section 69A as a refundable loan from the employer was justified.
• 4. Whether the Assessing Officer erred in making the addition without a specific show cause notice.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Hari Om Verma vs. ITO, Ward 71(2)

  Delhi Bench benchAY 2017-18Partly Allowed

• Mudita Chaturvedi Vs. ACIT

  Delhi Bench ‘E’, New Delhi benchAY 2019-20Allowed

• DCIT, CC-4(4), Kolkata Vs. Mira Bibi

  Kolkata benchAY 2017-18Dismissed

• Kaushal Pravinkumar Shah Vs. ITO

  Ahmedabad bench

• Akheto Yepthomi Vs. Income Tax Officer, Ward 1, Dimpaur

• Rajan Diwan Vs. DCIT/ACIT (Central), Noida

  Delhi Bench benchAY 2016-17Allowed