Abhey Singh vs Income Tax Officer Ward 1(1), Gurgaon

PER SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER:

This assessee’s appeal for assessment year 2011-12, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [for short, ‘CIT(A)/NFAC’], Delhi’s, DIN and order no. ITBA/NFAC/S/250/2024-25/1071626212(1) dated 28.12.2024 involving proceedings under section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

Heard both the parties. Case file perused.

For the reasons stated in the assessee’s condonation averments, delay of 476 days in filing of the instant appeal is condoned in light of Collector, Land & Acquisition vs. Mst. Katiji & Others (1987) 167 ITR 471 (SC).

It transpires during the course of hearing that the assessee/appellant raises his sole substantive grievance directed against both the learned lower authorities’ decision and lower appellate findings treating these cash deposits amounting to Rs. 20 lakhs as unexplained which forms the sole subject matter of the tribunal’s apt adjudication herein.

That being the case, both the parties vehemently reiterate their respective stands against and in support of the impugned addition. The assessee more particularly invites the tribunal’s attention to pages 16 to 17 of the paperbook in the case record that both he himself and his sister namely Dhanvanti had maintained their as many bank accounts with M/s Gurgaon Gramin Bank, Jamalpur Chowk, Distt-Gurgaon in the relevant previous year. And that his sister had withdrawn cash of Rs. 20 lakhs on 12.10.2010 which stood deposited in his bank account in entirety on the very day. It has made clear that both these bank statements to this effect form part of the case records. This tribunal, therefore, finds merit in the assessee’s case that his impugned cash deposits of Rs. 20 lakhs came from his sister covered in the exempt category of “relatives” u/s 56 of the Act. The impugned addition is hereby deleted therefore.

This assessee’s appeal is allowed.