Sunil Kumar Garg vs. ITO

Parties Involved

Facts Summary

The assessee, Sunil Kumar Garg, deposited cash amounting to Rs. 31,40,000/- in his post office savings bank account. The source of this cash was explained as gifts received from his parents. The Assessing Officer (AO) and the Commissioner of Income Tax (Appeals) (CIT(A)) treated this cash deposit as unexplained income and added it to the assessee's total income. The assessee filed an appeal against this order, arguing that the source of the cash deposit had been fully explained and that the authorities below erred in not accepting this explanation.…

Legal Issues

• 1. Whether the source of cash deposit of Rs. 31,40,000/- in the assessee's bank account was properly explained?

Judgment Outcome

Decided in favour of Assessee.

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