Ramesh Kumar Agarwal vs. ITO, Ward-45(1),Kolkata

Parties Involved

Facts Summary

The assessee filed a return of income for the year under consideration declaring a total income of Rs.4,82,950/-. The case was selected for scrutiny on the issue of 'large value of cash deposited during demonetization period'. An Assessment Order was passed on 24.09.2019, making an addition of Rs.15,25,000/- under section 68 of the Act and Rs.5,000/- on account of excess claim of deduction under section 80D on account of Mediclaim. The assessee preferred an appeal before the Commissioner of Income Tax (Appeals) (CIT(A)), which was dismissed on 14.05.2024. The assessee then filed an appeal before the ITAT against the order of the CIT(A).…

Legal Issues

• 1. Whether the delay in filing the appeal should be condoned?
• 2. Whether the addition made by the Assessing Officer under section 68 of the Act is justified?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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