Shri. Nanjappa Vijay Shankar Vs. ITO
Case No: ITA No.2380/Bang/2024
Court: INCOME TAX APPELLATE TRIBUNAL, 'B' BENCH, BANGALORE
Date: 1/17/2025
Parties Involved
appellantShri. Nanjappa Vijay Shankar
respondentITO
Facts Summary
The assessee, Shri. Nanjappa Vijay Shankar, filed his return of income in ITR-1 on 04.11.2017 declaring a gross total income of Rs.7,26,430/-. This income included salary income of Rs.8,93,342/-, a loss from house property of Rs.166,912/-, and claimed deductions under Chapter VIA, resulting in a total income of Rs.5,72,210/-. The case was selected for scrutiny to verify cash deposits and property transactions. The assessee provided details of the source of purchase of property, including unsecur…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the cash deposits in the bank accounts are unexplained and should be added to the total income under section 69 of the Act.