Vishnu Purohit Vs. ITO, Ward-61(1), Kolkata

Parties Involved

Facts Summary

The assessee, Vishnu Purohit, an individual, did not file his return of income for the assessment year 2016-17 as his income was below the taxable limit. However, the Assessing Officer (AO) reopened the case based on information from the Investigation Wing and issued a notice under section 148 of the Income Tax Act. In response, the assessee filed a return declaring a total income of Rs. 23,760/-. The assessee claimed that a cash deposit of Rs. 3,08,01,906/- was towards sales and had been accounted for in the computation of income. The AO assessed the total income at Rs. 3,67,55,555/- after adding Rs. 3,65,18,293/- on account of the cash deposit. The assessee appealed against this order, which was dismissed by the Commissioner of Income Tax (Appeals) (CIT(A)). The assessee then appealed to the ITAT.…

Legal Issues

• 1. Whether the AO was justified in adding the cash deposit of Rs. 3,65,18,293/- to the assessee's income without sufficient corroborative evidence.

Judgment Outcome

Decided in favour of Assessee.

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