SK. Rezzak vs. Income Tax Officer
Case No: I.T.A. No.586/Kol/2025
Court: Income Tax Appellate Tribunal, SMC Bench, Kolkata
Date: 10/27/2025
Parties Involved
appellantSK. Rezzak
respondentIncome Tax Officer, Ward – 3(3), Suri
Facts Summary
The assessee, SK. Rezzak, is engaged in running a cable network and cloth business. He e-filed the return of income declaring a total income of Rs. 7,02,220/-. The case was selected for scrutiny, and a notice under sections 143(2) and 142(1) of the Income Tax Act, 1961, was issued. During the assessment proceedings, the Assessing Officer (AO) observed a sharp rise in cash deposits during the demonetization period. The AO noted that the assessee had deposited Rs. 11,04,000/- in A/c No. 1010038 an…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of Rs. 8,56,500/- by the Ld. CIT(A) as made by the AO in respect of cash deposited during demonetization period as unexplained money.
Precedents Relied Upon
4 precedents cited in this judgement.