Sh. Vijay Pal Solanki vs. Income Tax Officer

Parties Involved

Facts Summary

This appeal arises against the Commissioner of Income Tax (Appeals)-15 [CIT(A)/NFAC], Delhi’s order dated 14.08.2019 passed in case no. 35/16-17, involving proceedings under section 143(3) of the Income-tax Act, 1961. The learned Assessing Officer had framed his regular assessment on 31st March, 2016, making section 37 disallowance followed by section 69 and 68 additions. The Revenue contends that the lower authorities rightly disallowed/added the impugned sums due to the assessee's failure to explain the source of his cash credits/deposits and investments. The assessee did not appear for the hearing, and the case was proceeded ex-parte.…

Legal Issues

• 1. Whether the lower authorities rightly disallowed/added the impugned sums due to the assessee's failure to explain the source of his cash credits/deposits and investments.

Judgment Outcome

Decided in favour of Assessee.

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