Tirtha Pratim Basu vs. ITO, Ward-61(3), Kolkata

Parties Involved

Facts Summary

The assessee, Tirtha Pratim Basu, has appealed against the order of the Commissioner of Income Tax (Appeals) dated 22.01.2024, which added Rs.54,66,400/- on account of unexplained cash credit into the bank account of the assessee. The assessee claimed that he acted merely as an entry provider and had already offered the commission amount of Rs.5,40,000/- as income. However, the lower authorities did not accept this explanation. The assessee's counsel submitted that the bank statements were available to the Assessing Officer, and details of the cheques issued against cash deposits were provided. The matter was restored to the file of the Assessing Officer to examine the details and decide the issue afresh.…

Legal Issues

• 1. Whether the assessee was merely an entry provider.

Judgment Outcome

Decided in favour of Assessee.

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