Sh. Amit Sharma vs Income Tax Officer, Ward-1(1), Faridabad

This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/Addl./JCIT(A), Panaji’s order dated 10.12.2025 having DIN and order no. ITBA/APL/S/250/2025-26/1083511321(1), involving proceedings under section 143(3) r.w.s. 147 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

Heard both the parties. Case file perused.

It emerges during the course of hearing with the able assistances coming from both the parties that the learned lower authorities have treated the assessee’s entire cash deposits of Rs. 14.72 lakhs as unexplained; in assessment order dated 13.12.2019 as upheld in the lower appellate discussion.

That being the case, learned counsel representing the assessee has invited the tribunal’s attention to his cash book/cash flow statement indicating the cash in hand of Rs.18.72/- lakhs; and, therefore, his case in light of the assessee’s explanation dated 15.10.2019 filed before the Assessing Officer is that the cash deposits forming subject matter of addition herein are nothing but redeposits of the cash in hand only. The fact however remains that the assessee has not pleaded and proved the same to the entire satisfaction of both the learned lower authorities. Be that as it may, it is deemed appropriate in the larger interest of justice that a lumpsum addition of Rs.1 lakh only would be just and proper with a rider that the same shall not be treated as a precedent. The assessee gets relief of Rs.13.72 lakhs in other words. Necessary computation shall follow as per law.

This assessee’s appeal is partly allowed.