Vijay Odhabhai Lalu Vs ITO

Parties Involved

Facts Summary

The assessee, Vijay Odhabhai Lalu, filed an appeal against the order of the National Faceless Appeal Centre, Delhi (NFAC)/learned Commissioner of Income Tax (Appeals), dated 10/10/2023 for the Assessment Year (AY) 2017-18. The assessee raised several grounds of appeal, including that the learned CIT(A) passed an ex-parte order when the assessee was prevented by reasonable cause for not complying with the notices, and that the Assessing Officer erred in making an addition of Rs. 57,22,000/- u/s. 69A of the Income Tax Act, 1961 for alleged cash deposit into the bank, when no high denomination cash was deposited during the demonetization period. The assessee also argued that the Assessing Officer erred in taxing the income u/s. 69A of the Income tax Act, 1961 for alleged cash deposit of Rs. 57,22,000/- during the year when it was explained out of agricultural income. Additionally, the assessee argued that the Assessing Officer erred in taxing the income u/s. 115BBE when the assessee's income cannot be taxed u/s. 69A as the assessee has got no source of income other than agricultural income and interest income. The assessee prayed that the addition made by the assessing officer and confirmed by CIT(A) may please be deleted.…

Legal Issues

• 1. Ex-parte order passed by CIT(A) when the assessee was prevented by reasonable cause for not complying with the notices.
• 2. Assessing Officer erred in making an addition of Rs. 57,22,000/- u/s. 69A of the Income Tax Act, 1961 for alleged cash deposit into the bank, when no high denomination cash was deposited during the demonetization period.
• 3. Assessing Officer erred in taxing the income u/s. 69A of the Income tax Act, 1961 for alleged cash deposit of Rs. 57,22,000/- during the year when it was explained out of agricultural income.
• 4. Assessing Officer erred in taxing the income u/s. 115BBE when the assessee's income cannot be taxed u/s. 69A as the assessee has got no source of income other than agricultural income and interest income.

Judgment Outcome

Decided in favour of Assessee.

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