Vinita Jagdesh Aswani Vs ITO
Parties Involved
Facts Summary
Vinita Jagdesh Aswani, an individual identified as a non-filer, deposited a large amount of specified bank notes/cash into her bank account. The Income Tax Officer, Ward-8(1), Pune, issued a notice under section 142(1) of the Income-tax Act, 1961, calling upon her to furnish a return of income. As she did not file the return within the time limit, her return was turned down. The AO rejected the assessee's books and framed the assessment under section 144 of the Act, treating the entire specified bank notes deposits as unexplained cash credit under section 68 of the Act and brought the same to tax under section 115BBE of the Act. The assessee appealed against the rejection of her books and the determination of income, but the National Faceless Appeal Centre dismissed the appeal ex-parte. The assessee had opted for the Vivad Se Vishwas Scheme but did not pay the disputed taxes. The Income Tax Appellate Tribunal, Pune, allowed the appeal for statistical purposes and remitted the file to the NFAC for de-novo adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Ex-parte dismissal of appeal by NFAC
- 2. Rejection of books and determination of income
Judgment Outcome
Decided in favour of Assessee.