Rameshwar Dayal vs. Income Tax Officer, Ward-3(2), Gwalior

Parties Involved

Facts Summary

The appeal in ITA No. 85/AGR/2025 for Assessment Year 2011-12 arises from the order of the National Faceless Appeal Centre (NFAC), Delhi dated 23.12.2022 against the order of assessment passed by the Assessing Officer, ITO, Ward-3(2), Gwalior dated 03.11.2018. The assessee, Rameshwar Dayal, filed an appeal against the addition of cash deposits made in ICICI Bank in the sum of Rs 10,05,000/-. The Assessing Officer obtained information from ICICI Bank about the cash deposits and issued notices under sections 148 and 142(1) of the Income-tax Act, 1961, which were not responded to by the assessee. Consequently, the Assessing Officer made an addition of Rs 10,05,000/- on account of cash deposits treating it as unexplained. The assessee submitted that he is an ex-army serviceman with income from pension below the maximum amount not chargeable to tax and that the cash deposits were sale proceeds of agricultural land received by his wife, which were deposited in their joint bank account.…

Legal Issues

• 1. Challenging the addition of cash deposits made in ICICI Bank in the sum of Rs 10,05,000/-.

Judgment Outcome

Decided in favour of Assessee.

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