Satish Saini vs Income Tax Officer

This assessee’s appeal for Assessment Year 2012-13 arises against the CIT(A)/Addl./JCIT(A)-1, Nashik’s DIN & order No.IT BA/APL/S/250/2025-26/1081780380(1) dated 15.10.2025, in proceed ings u/s 147 of the Income Tax Act, 1 961 (in short “the Act”).

Heard both the p arties at length. Case file perused.

Delay of 48 days in filing of the instant appeal is condoned in the larger interest of justice in lig ht of Collector Land Acquisition vs. Mst. Katiji & Ors (1987) 167 ITR 471 (SC).

Coming to the sole substantive issue between the parties herein, it transpires during the course of hearing that both the learned lower authorities have assessed the assessee for cash deposits of Rs.4 5,00,000/- made in his bank account co ncern; in assessme nt order dated 01.12.2019 as upheld in the lower appellate discussion.

It is in this factual backdrop that the learned counsel has invited the tr ibunal’s attention to page 46 in the paper book containing the concerned bank authorities’ certificate that the assessee Sh. Satish Saini has jo ined his father’s bank account as a joint ho lder w.e.f. 27.07.2012 i.e. from assessment year 2013-14 onwards whereas the impugned assessment year involved herein is A.Y. 2012-13. I am of the considered view in this clinching factual backdrop that both the learned lower authorities have erred in law and on facts in assessing the sum deposited herein in F.Y . 2011-12 as the assessee’s taxable income in very terms. Deleted according ly.

This assessee’s appeal is allowed.