Pushpakant Punjalal Chokshi vs. The Income Tax Officer

Parties Involved

Facts Summary

The present appeal has been filed by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals) passed under Section 250 of the Income Tax Act, 1961 and relates to Assessment Year 2012-13. The grounds raised in the appeal by the assessee are that the Commissioner of Income Tax (Appeals) erred in holding that the appellant had not provided any evidence of cash deposit, did not give proper opportunity for further submission, rejected the submissions made by the appellant before the Assessing Officer, and confirmed the addition of Rs.9,23,000/- under Section 69A of the Act. The assessee contends that the bank account in which the cash was found deposited belonged to the HUF of the assessee and not to the assessee himself. The assessee provided bank statements, bank books, cash books of the HUF, and the Income Tax Return of the HUF to substantiate his claim.…

Legal Issues

• 1. The addition made to the income of the assessee on account of cash allegedly found deposited in the bank account amounting to Rs.9,23,000/-.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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