Ranjeet Singh Vs. ITO, Ward-5(5), Patna

Parties Involved

Facts Summary

The assessee, Ranjeet Singh, deposited Rs. 30,50,000 in his IDBI Bank account during the relevant year, with Rs. 14,50,000 deposited during demonetization and Rs. 16,00,000 deposited in the rest of the year. The source of the deposits was claimed to be a gift from his father, an agriculturist. The Assessing Officer (AO) did not find the explanation satisfactory and made an addition of Rs. 30,50,000 under section 69A of the Income Tax Act, 1961. The assessee appealed against this order, raising several grounds including non-service of notice under section 148 and the validity of the reassessment proceedings.…

Legal Issues

• 1. Whether the notice under section 148 was served upon the assessee.
• 2. Whether the addition of Rs. 30,50,000 under section 69A was justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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