Usha Patodia Vs. ITO, Ward 30(1)

Parties Involved

Facts Summary

The assessee, Usha Patodia, filed her return of income on 20.04.2017, declaring a total income of Rs.12,80,028. Her case was selected for limited scrutiny regarding cash deposited during the demonetization period. The assessee provided evidence and computation of total income showing additional income from cash deposits under the head 'Other Sources' miscellaneous. She filed a cash statement and bank statements showing deposits of Rs. 42 lacs on two occasions. The Assessing Officer issued a show cause notice and added Rs. 42 lacs as unexplained money to the assessee's income. In the appellate proceedings, the CIT(A) dismissed the assessee's appeal, confirming the addition. The assessee argued that the cash deposit was already disclosed in her return and taxing it again under Section 69A resulted in double taxation.…

Legal Issues

• 1. Confirmation of addition by the ld. CIT(A) as made by the ld. Assessing Officer towards cash deposited during the demonetization period.
• 2. Taxing the cash deposit u/s 115BBE of the IT Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Shakti Sales Corporation Vs ITO, Ward-27(3)(1), Mumbai

• Saifa Molla Vs. ITO, Ward-26(3), Kolkata

  Kolkata 'SMC' Bench benchAY 2017-18Partly Allowed

• Triveni Devi Bhutra Vs. ITO, Ward-61(4), Kolkata

  Kolkata 'SMC' Bench benchAY 2017-18Partly Allowed

• Dipika Singh Vs. ITO, Ward 50(2)

  Kolkata benchAY 2017-18Allowed

• Seema Devi Jain Vs. ACIT

  Delhi Bench ‘G’ New Delhi benchAY 2017-18Allowed

• Income Tax Officer Vs. Hema Arora