Krishan Kumar Bansal, Sh. Dinesh Kumar Bansal (Legal Heir of Late Sh. Krishan Kumar Bansal) Vs. Assessing Officer, Ward-46(4), New Delhi

Parties Involved

Facts Summary

This appeal by assessee is arising out of the order of National Faceless Appeal Centre/ld. Commissioner of Income Tax(Appeals), New Delhi, dated 05.07.2024 against the assessment order dated 29.09.2021 passed u/s 147 of the Income Tax Act, 1961 (hereinafter ‘the Act’) pertaining to Assessment Year 2017-18.…

Legal Issues

• 1. Addition of Rs.72,90,000.00 u/s 69A of the Income tax Act, 1961 as unexplained cash deposited in the bank.
• 2. Non-relief in respect of penalty notice u/s 271AAC of the Act by the Assessing Officer.
• 3. Validity of the initiation of proceedings under section 147 of the Act and completion of assessment under section 143(3)/ 147 of the Act.
• 4. Validity of the approval accorded under section 151 of the Act.

Judgment Outcome

Decided in favour of Assessee.

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