Mahendra Singh Vs. ACIT-1(1), Raipur

Parties Involved

Facts Summary

Mahendra Singh filed an appeal against the order passed by the ADDL/JCIT(A)-9, Mumbai, dated 01.02.2024, which arose from the order passed by the A.O under Sec. 144 of the Income-tax Act, 1961 dated 19.12.2018 for the assessment year 2016-17. The assessee had e-filed his return of income for A.Y.2016-17 on 24.12.2016, declaring an income of Rs.6,66,740/-. The case was selected for limited scrutiny u/s. 143(2) of the Act. The A.O observed that the assessee had made cash deposits of Rs.7,00,000/- in his bank account with IDBI Bank. As the assessee failed to provide an explanation for the source of these cash deposits, the A.O treated the amount as unexplained cash credit u/s.68 of the Act, determining the income at Rs.13,66,740/-. The assessee carried the matter in appeal before the ADDL/JCIT(A)-9, Mumbai but without success. The assessee then carried the matter in appeal before the Tribunal.…

Legal Issues

• 1. Ground 1: The Order of the AO as well as CIT(A) is opposed to both facts and law and may kindly be quashed.
• 2. Ground 2: Hon. CIT(A) has dismissed the appeal without considering submission made by assessee which is against the law of natural justice and bad in law.
• 3. Ground 3: The learned CIT(A) erred in not condoning the delay in filing the appeal by the assessee.
• 4. Ground 4: The learned CIT(A) erred in mentioning that there are delay in filing of appeal by 678 days instead of delay in 313 days.
• 5. Ground 5: The Assessing Officer erred in making addition of Rs. 7,00,000/- treating 'Cash deposit' as unexplained cash credit.
• 6. Ground 6: The AO has erred in not giving set off of loss of House Property amounting of Rs.75,986/-

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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