Sri Rahul Pandey vs. ITO, Ward-1(4), Ranchi

Parties Involved

Facts Summary

The Income Tax Appellate Tribunal, Ranchi Bench, heard an appeal against the appellate order passed by the CIT(A)/NFAC, dated 28.11.2023. The assessee, Sri Rahul Pandey, contested the addition of cash deposits in his bank accounts amounting to Rs 10,10,000/- and Rs 5,00,000/- made during the demonetization period. The assessee also contested the addition made on account of the difference in the figures of purchase as per the books of account and VAT return. The appellate authority dismissed the appeal due to the assessee's non-compliance with various notices issued during the appellate proceedings.…

Legal Issues

• 1. Addition of cash deposits in bank accounts during demonetization period
• 2. Difference in the figures of purchase as per books of account and VAT return

Judgment Outcome

Decided in favour of Assessee.

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