Nisha Bhradwaj vs. ITO

Parties Involved

Facts Summary

The assessee, Nisha Bhradwaj, filed an appeal against the order of the Assessing Officer (AO) for the assessment year 2017-18. The AO had issued notices under section 142(1) and 143(2) of the Income Tax Act, which the assessee did not comply with. Consequently, the AO completed the assessment ex-parte under section 144 of the Act. The assessee had deposited a total of Rs. 16,65,000/- in cash in her savings bank account during the year under consideration. The AO considered the cash deposits as unexplained money under section 69A of the Act due to the lack of evidence provided by the assessee. The assessee had also made a transaction for the purchase/sale of immovable property for Rs. 40,00,000/-, which was treated as an unexplained transaction and added to the total income. The assessee filed an appeal before the Commissioner of Income Tax (Appeals) (CIT(A)), who partly allowed the appeal by admitting additional evidence submitted by the assessee and sustaining the addition of Rs. 6,00,000/- under section 69A r.w.s 115BBE. The assessee further appealed to the Income Tax Appellate Tribunal (ITAT), challenging the addition of Rs. 6,00,000/-.…

Legal Issues

• 1. The Ld. CIT(A) has erred on facts and in law in sustaining the addition to the extent of Rs. 6,00,000/-
• 2. The Ld. CIT(A) is highly unjustified upholding the additions made by the Ld. AO to the extent of Rs. 6 lacs under 69A with Section 115BBE.

Judgment Outcome

Decided in favour of Assessee.

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