Mangat Ram vs ITO

Parties Involved

Facts Summary

The assessee, Mangat Ram, filed an appeal against the order passed by the Commissioner of Income Tax (Appeals) for the assessment year 2017-18. The Assessing Officer (AO) had made an addition of INR 8,90,000/- under section 69A of the Income Tax Act, 1961, on account of cash deposited in the bank during the demonetization period. The assessee argued that the cash deposited was from cash sales and was duly recorded in the books of accounts. The Commissioner of Income Tax (Appeals) sustained the addition made by the AO. The assessee further appealed to the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the Ld. CIT(A) erred in confirming the addition of Rs. 8,90,000/- made by the AO under section 69A?
• 2. Whether the cash deposited during the demonetization period was from a valid source?
• 3. Whether the addition made by the AO amounted to double taxation?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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