Sh. Suresh Chand Singhal Vs. Income Tax Officer, Ward-53(2), Delhi

Parties Involved

Facts Summary

The assessee, Sh. Suresh Chand Singhal, appealed against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [CIT(A)/NFAC], Delhi, involving proceedings under section 143(3) of the Income-tax Act, 1961. The assessee challenged the addition of Rs. 9,04,500/- under section 69A read with section 115BBE, which represented his cash deposit during demonetization. The assessee claimed to have withdrawn a total cash of Rs. 12.07 lakhs in the relevant previous year, which he could not satisfactorily prove to the lower authorities. The assessee is a pensioner and under re-employment in the sales tax department.…

Legal Issues

• 1. Validity of the addition of Rs. 9,04,500/- under section 69A read with section 115BBE
• 2. Assessment under section 115BBE

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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