Sri.Unnikrishnan Vadakkanthra v. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Sri.Unnikrishnan Vadakkanthra, had not filed his return of income, and the Income Tax Officer (ITO) issued a notice under section 142(1) of the Income Tax Act. The ITO collected bank account statements and certificates on specified bank notes under section 133(6) of the Act and made an assessment under section 144 of the Act based on the available material. The assessee challenged the order of the Commissioner of Income Tax (Appeals) dated 21.02.2024, arguing that he was not granted sufficient opportunity to substantiate that the amount deposited during the demonetization period represents business receipts. The assessee also contended that section 69A of the Act could not be applied to the facts and circumstances of the case.…

Legal Issues

• 1. Whether the order of the Commissioner of Income Tax (Appeals) is prejudicial to the interest of the appellant and opposed to law, facts, and circumstances of the case.
• 2. Whether section 69A of the Income Tax Act is applicable to the facts and circumstances of the case.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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