Shekhar Sanjay Jadhav vs The Income Tax Officer, Satara

Parties Involved

Facts Summary

In this case, the assessee, Shekhar Sanjay Jadhav, filed a Return of Income electronically for Assessment Year 2017-18 on 30.03.2018, declaring a total income of Rs.3,56,940/-. The case was selected for limited scrutiny due to a large cash deposit. The Assessing Officer issued notices on 08.08.2018, 16.09.2019, 14.10.2019, and 05.12.2019, with the latter being a show-cause notice. The assessee did not respond, leading the Assessing Officer to add Rs.28,82,500/- to the assessee's income, which was the alleged amount of cash deposited in the savings bank account. The Commissioner of Income Tax (Appeals) confirmed the addition, prompting the assessee to file an appeal before the Tribunal. The assessee argued that the cash deposit was from the sale of stamp papers and that he only received commission from the sales. The Tribunal found that the Assessing Officer and the Commissioner of Income Tax (Appeals) did not properly verify the facts and did not provide the assessee with an opportunity to explain the cash deposit. The Tribunal set aside the order of the Commissioner of Income Tax (Appeals) and allowed the appeal for statistical purposes.…

Legal Issues

• 1. Whether the Assessing Officer and the Commissioner of Income Tax (Appeals) properly verified the facts and provided the assessee with an opportunity to explain the cash deposit?

Judgment Outcome

Decided in favour of Assessee.

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