Manoj Kumar Agarwal vs. Income Tax Officer, Ward-45(2), Delhi
Case No: ITA No.2485/Del/2024
Court: Income Tax Appellate Tribunal, Delhi Bench
Date: 3/26/2025
Parties Involved
appellantManoj Kumar Agarwal
respondentIncome Tax Officer, Ward-45(2), Delhi
Facts Summary
The assessee, Manoj Kumar Agarwal, filed his return of income for the year 2017-18 declaring a total income of Rs.4,93,960/-. His case was selected for scrutiny due to cash deposits during demonetization and an abnormal increase in sales with a decrease in profitability compared to the preceding year. The assessee deposited Rs.28,45,000/- during demonetization in his bank account, claiming these were business receipts. The Assessing Officer (AO) added Rs.19,25,000/- as unexplained money. The Com…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of Rs.19,25,000/- by the Assessing Officer is justified?