Amar Singh vs Income Tax Officer (OSD)-1

This assessee’s appeal for assessment year 2017-18, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2025-26/1079346292(1), dated 06.08.2025 involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

Heard both the parties at length. Case file perused.

It transpires during the course of hearing that the assessee/appellant is aggrieved both the learned lower authorities’ action holding his cash deposits amounting to Rs.10.32 lakhs as unexplained; in assessment order dated 30.11.2019 as upheld in the lower appellate discussion.

That being the case, the assessee has invited the tribunal’s attention to page-30 in paper book indicating his cash withdrawals of Rs.26.37 lakhs coupled with agricultural income amounting to Rs.9,72,113/- as well as family’s past savings. The fact however remains that he has not been able to plead and prove all the relevant facts to this effect to the entire satisfaction of the lower authorities. Be that as it may, it is deemed appropriate that lumpsum addition of only Rs.1 lakhs in the given facts would just and proper with a rider that the same shall not be treated as precedent. The assessee gets relief of Rs.9.32 in other words. Necessary computation shall follow as per law.

So far as assessee’s assessment under section 115BBE is concerned, we quote S.M.I.L.E. Microfinance Ltd. Vs. ACIT, W.P. (MD) No.2078 of 2020 & 1742 of 2020, dated 19.11.2024 (Madras) that the impugned statutory provision would come into effect on the transaction done on or after 01.04.2017 only. The assessee is accordingly directed to be assessed under the normal provision as per law.

This assessee’s appeal is partly allowed.