Nihir Sureshchandra Shah Vs. ITO

Parties Involved

Facts Summary

The appeal is filed by the Assessee against the order dated 11.03.2025 passed by the Ld. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, under Section 250 of the Income-tax Act, 1961, relating to the Assessment Year 2016-17. The assessee has not filed his return of income for the year under consideration. The assessee had cash deposits of Rs.17.21 lakhs in his bank account maintained with HDFC Bank Ltd. which have been brought to tax under Section 68 of the Act by the Revenue Authorities. The assessee provided details of cash deposits and withdrawals before the tribunal.…

Legal Issues

• 1. The addition made by the authorities under Section 68 of the Act.

Judgment Outcome

Decided in favour of Assessee.

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