Rameshwar Baburao Bharad Vs ITO
Parties Involved
Facts Summary
The appellant, Rameshwar Baburao Bharad, was identified as a Non-Filer by the Revenue for the assessment years 2014-15 to 2016-17. An information was received that the appellant made huge cash deposits in his account with 'Shri Renuka Mata Multi-State Urban Co-operative Credit Society'. Consequently, the case was re-opened under section 148 of the Income-tax Act, 1961. The appellant failed to explain the nature and source of the cash deposits, leading the Assessing Officer to treat the deposits as unexplained income and tax them under section 69 of the Act. The appellant challenged the assessment orders before the first appellate authority, which dismissed the appeals on the ground of limitation. The appellant then filed appeals before the ITAT challenging the dismissal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the first appellate authority was justified in dismissing the appeals on the ground of limitation?
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
3 precedents cited in this judgement.