Sh. Ashish Kumar vs. Income Tax Officer

Parties Involved

Facts Summary

This case involves an appeal by Sh. Ashish Kumar against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s order dated 01.04.2026 involving proceedings under section 147 of the Income-tax Act, 1961. The assessee seeks to reverse the findings of the lower authorities assessing his cash deposits during the demonetization period amounting to Rs.24,23,000/- as unexplained under section 69A of the Act. The assessee had filed all the relevant details of the business turnover during demonetization, but he had not successfully discharged his onus of pleading and proving his explanation to the very effect. The assessee gets relief of Rs.22,23,000/- in other words.…

Legal Issues

• 1. Assessing cash deposits during demonetization period as unexplained under section 69A of the Act.
• 2. Assessment under section 115BBE.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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