Vikash Mimani vs. ITO, Ward – 3(1), Gangtok

Parties Involved

Facts Summary

The assessee, Vikash Mimani, made cash deposits aggregating to ₹4,37,52,752/- in Axis Bank and Union Bank during the assessment year 2016-17. No return of income was filed by the assessee. Consequently, proceedings under Section 147 of the Income-tax Act, 1961 were initiated, and notices under Sections 148, 142(1), and 144 of the Act were issued. The Assessing Officer completed the assessment under Section 144 of the Act, determining the total income at ₹35,00,220/-, treating the deposits as turnover. The CIT(A) dismissed the appeal on the ground of non-compliance with Section 249(4)(b) of the Act.…

Legal Issues

• 1. Whether the appeal was maintainable despite non-compliance with Section 249(4)(b) of the Act.

Judgment Outcome

Decided in favour of Assessee.

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