Sh. Neeraj Rawal Vs. Income Tax Officer, Ward-58(3), Delhi

Parties Involved

Facts Summary

The assessee, Sh. Neeraj Rawal, appealed against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [CIT(A)/NFAC], Delhi, dated 23.08.2024, involving proceedings under section 144 of the Income-tax Act, 1961. The appeal pertains to the assessment year 2017-18. The assessee is aggrieved by the lower authorities' action treating cash deposits of Rs.12.56 lakhs deposited in the bank account of its karta/individual, Sh. Neeraj Rawal. The assessee has provided a bank statement to substantiate the deposits.…

Legal Issues

• 1. Whether the delay in filing the appeal should be condoned?
• 2. Whether the lower authorities erred in assessing the cash deposits made by the assessee/HUF’s karta in his personal account?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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