Sh. Raj Kumar Aggarwal Vs Income Tax Officer, Ward-36(2), New Delhi

Parties Involved

Facts Summary

The case pertains to the appeal of Sh. Raj Kumar Aggarwal against the order of the Additional/Joint Commissioner of Income Tax (Appeals)-2, Bengaluru, dated 07.11.2025, in proceedings under section 143(3) of the Income Tax Act, 1961. The assessee contends that the lower authorities erred in treating his cash deposits of Rs. 14,15,000/- during demonetization as unexplained cash credits under section 68 read with section 115BBE of the Act. The Revenue argues that the assessee failed to prove the source of these deposits, leading to the addition in question. The assessee derives regular business income from job works, but the details were not reconciled or verified in the lower proceedings.…

Legal Issues

• 1. Whether the cash deposits of Rs. 14,15,000/- during demonetization should be treated as unexplained cash credits under section 68 read with section 115BBE of the Income Tax Act, 1961.
• 2. Whether the assessee should be assessed under section 115BBE of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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