Shri Hemant Kumar Vs. The I.T.O.

Parties Involved

Facts Summary

The assessee, Shri Hemant Kumar, filed two separate appeals (ITA No. 1464/DEL/2019 for A.Y. 2010-11 and ITA No. 1465/DEL/2019 for A.Y. 2011-12) against the order of the ld. CIT(A)-1, Gurgaon dated 31.03.2016. The appeals were heard together due to common grievances. The assessee's counsel argued that the ld. CIT(A) ignored evidences produced for both assessment years and requested the matter be remitted to the Assessing Officer for fresh adjudication. The Departmental Representative (DR) relied on the orders of the ld. CIT(A). The assessee raised several grounds for A.Y. 2010-11, including additions made on account of unsecured loans and advances received on booking of plots/flats. For A.Y. 2011-12, similar grounds were raised concerning cash deposits and unsecured loans.…

Legal Issues

• 1. Addition of Rs 2,51,27,502/- on account of unsecured loan u/s 68 for A.Y. 2010-11
• 2. Addition of Rs 1,66,00,616/- on account of advance received on booking of plot/flats for A.Y. 2010-11
• 3. Cash deposits of Rs 4,84,03,500/- and addition of Rs 3,18,61,638/- on account of unsecured loan for A.Y. 2011-12

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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