Sourav Mittal Vs. ITO, Ward-2(3)

Parties Involved

Facts Summary

The assessee, Sourav Mittal, filed his return of income on 29.03.2018, declaring a total income of ₹8,02,930/-. His case was selected for limited scrutiny to verify cash deposits made during the financial year. The assessee claimed to have received cash marriage gifts totaling ₹2,01,03,300/- from 823 persons, part of which was deposited into his bank account in two installments: ₹50.00 lacs on 22.05.2016 and ₹1,45,000/- on 31.03.2017. The Assessing Officer (AO) added ₹51,45,000/- to the assessee's income under section 69A of the Act, deeming it unexplained money. The Commissioner of Income Tax (Appeals) [CIT(A)] upheld this addition, dismissing the assessee's appeal for lack of substantiation.…

Legal Issues

• 1. Confirmation of addition of ₹51,45,000/- by the ld. CIT (A) as made by the ld. AO u/s 69A of the Act on account of cash deposited during the relevant financial year into the bank account.

Judgment Outcome

Decided in favour of Assessee.

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