Sohan Lal Saini vs ITO

Parties Involved

Facts Summary

Sohan Lal Saini, an individual running a banking kiosk authorized by the Bank of Baroda, filed his income tax return for the assessment year 2017-18 electronically on 27.03.2018. The case was selected for scrutiny, and a notice under section 143(2) was issued on 25.09.2018. The assessee deposited Rs. 17,16,500/- and paid Rs. 7,40,850/- to customers during the demonetization period. The Assessing Officer found an unexplained credit of Rs. 6,18,538/- under section 69A of the Income Tax Act and added it to the assessee's income. The assessee appealed against this order, arguing that the addition was arbitrary and not based on the nature of his business. The appeal was heard on 10.09.2024 and the order was pronounced on 26.09.2024.…

Legal Issues

• 1. Whether the addition made by the Assessing Officer under section 69A of the Income Tax Act is justified?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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