Yogender Kumar Sharma vs. Income Tax Officer, Ghaziabad

Parties Involved

Facts Summary

The assessee, Yogender Kumar Sharma, deposited cash of Rs. 53,00,000/- in his savings bank account during the financial year 2010-11. An AIR information was received from Punjab National Bank regarding this deposit. A notice under section 133(6) of the Income Tax Act, 1961 was issued to the assessee on 19.03.2018 for verification of the transaction. Despite multiple notices under sections 142(1), 274(1)(b), and 144, the assessee failed to comply or respond. Consequently, the Assessing Officer issued a notice under section 148 of the Act on 28.03.2018. The assessee continued to exhibit non-cooperation towards the assessment proceedings. The Assessing Officer assessed the income at Rs. 53,00,000/- under sections 144/147 of the Act and charged interest under sections 234A and 234B.…

Legal Issues

• 1. Whether the Ld. CIT(A) erred in confirming the action of Ld. AO in framing the impugned reassessment order u/s 144/147 without assuming jurisdiction and complying with mandatory conditions u/s 147 to 151.
• 2. Whether the Ld. CIT(A) erred in confirming the addition of Rs. 53,00,000/- as unexplained by recording incorrect facts and findings and without observing the principles of natural justice.
• 3. Whether the Ld. CIT(A) erred in confirming the addition of Rs. 53,00,000/- as unexplained when the deposit in bank account is out of genuine sources.
• 4. Whether the Ld. CIT(A) erred in not reversing the action of Ld. AO in charging interest u/s 234A and 234B of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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