Sh. Karan Oberoi Vs. Income Tax Officer, Ward-1(4), Faridabad
Case No: ITA No.7581/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench
Date: 1/21/2026
Parties Involved
appellantSh. Karan Oberoi
respondentIncome Tax Officer, Ward-1(4), Faridabad
Facts Summary
The assessee, Sh. Karan Oberoi, is aggrieved against the findings of the lower authorities treating his cash deposits of Rs.10.80 lakhs as unexplained under section 68 r.w.s. 115BBE of the Income-tax Act, 1961. The assessee is a salaried employee who declared an amount of Rs.2.40 lakhs received from M/s. Oberoi Timber Traders. The lower authorities did not consider his socio-economic status and past accumulated savings.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the cash deposits of Rs.10.80 lakhs are unexplained under section 68 r.w.s. 115BBE of the Act.
- 2. Whether the assessee should be assessed under section 115BBE.
Precedents Relied Upon
1 precedent cited in this judgement.