Purama Ramakrishna Rao vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Purama Ramakrishna Rao, did not file his return of income for the Assessment Year 2017-18. The Assessing Officer issued a notice under section 142(1) of the Income Tax Act, 1961, calling for the assessee to file his return of income. However, the assessee failed to comply with the notice. The Assessing Officer observed that the assessee made substantial cash deposits in his bank account during the demonetization period and completed the assessment under section 144 of the Act, adding Rs. 21,30,000/- as unexplained money. The assessee appealed to the Commissioner of Income Tax (Appeals) - National Faceless Appeal Centre, Delhi, which dismissed the appeal. The assessee then appealed to the Income Tax Appellate Tribunal, Visakhapatnam SMC Bench.…

Legal Issues

• 1. Whether the order of the Commissioner of Income Tax (Appeals) is contrary to the facts and law applicable to the facts of the case.
• 2. Whether the provisions of section 115BBE of the Act are applicable to the case of the assessee.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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