Mrs. Kaveri V. Joshi vs. The Asstt. Commissioner of Income Tax

Parties Involved

Facts Summary

The case involves an appeal filed by Mrs. Kaveri V. Joshi, the legal heir of the deceased assessee, Vinoy Pandharinath Joshi, against an order passed by the Ld. Commissioner of Income Tax (Appeals), Kolkata, confirming an addition of ₹ 12,71,500/- made by the Assessing Officer under Section 69A of the Income Tax Act, 1961. The addition was made due to unexplained cash deposits of ₹ 23,21,500/- during the financial year 2016-17. The deceased assessee did not respond to various notices. In the appellate proceedings, documents including four bank accounts were furnished to explain the cash deposits, but the Ld. CIT(A) inadvertently considered only one bank account and partly allowed the appeal, sustaining an addition of ₹ 12,75,500/-.…

Legal Issues

• 1. Whether the addition of ₹ 12,71,500/- made by the Assessing Officer under Section 69A of the Act is justified.

Judgment Outcome

Decided in favour of Assessee.

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