Response Renewable Energy Ltd. vs. ITO, Ward-4(1), Kolkata
Case No: I.T.A. No.1426/Kol/2025
Court: Income Tax Appellate Tribunal, 'SMC' Bench Kolkata
Date: 11/3/2025
Parties Involved
appellantResponse Renewable Energy Ltd.
respondentITO, Ward-4(1), Kolkata
Facts Summary
The assessee, Response Renewable Energy Ltd., filed its return of income for the assessment year 2017-18 declaring a total income of ₹84,770 and book profit under section 115JB of ₹82,667. The case was selected for scrutiny, and notices under sections 143(2) and 142(1) were issued. Information from the Directorate of Income Tax (Investigation) revealed that the assessee had deposited ₹33,00,000 in cash during the demonetisation period. The Assessing Officer (AO) issued further notices under sect…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the cash deposits made by the assessee during the demonetisation period were satisfactorily explained.
Precedents Relied Upon
2 precedents cited in this judgement.