Raja Varshney vs. DCIT,CENTRAL CIRCLE-31

Parties Involved

Facts Summary

Raja Varshney, the assessee, filed an appeal against the order of the Commissioner of Income Tax (Appeals) dated 12.02.2024, pertaining to the assessment year 2021-22. The assessee's return of income was processed under section 143(1) of the Income Tax Act 1961. The case was selected for scrutiny assessment, and a search and seizure action was carried out on 06-01-2021 in the case of Hans group with whom the assessee had entered into unaccounted cash transactions. The Assessing Officer passed an assessment order under section 143(3) of the Act, determining the total income at Rs 20938430/- after making an addition of Rs.10550000/- towards undisclosed cash investment. The assessee filed an appeal before the Commissioner of Income Tax (Appeals) which was dismissed.…

Legal Issues

• 1. Whether the order passed by the Commissioner of Income Tax (Appeals) is bad both in the eye of law and on facts.
• 2. Whether the Commissioner of Income Tax (Appeals) erred in confirming the action of the Assessing Officer.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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