Jayanti Roy, Kolkata V. I.T.O., Ward - 33(4), Kolkata, Kolkata

ITA 104/KOL/2023

AI Insights

The case involves an appeal by Jayanti Roy against the order of the National Faceless Appeal Centre (CIT(A)), which was passed under section 250 of the Income Tax Act. The primary issue in the appeal was the addition of cash deposits made during the demonetisation period to the assessee's income. The assessee's representative argued that these deposits were from withdrawals made months earlier, which was supported by bank statements. The Departmental Representative did not contest this fact. Consequently, the tribunal decided in favor of the assessee, allowing the appeal and deleting the additions.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 128129 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-05-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 22-05-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 06-02-2023
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250

Judgement Text

आयकर अपीलȣय अͬधकरण, कोलकाता पीठ ‘एसएमसी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA Įी संजय गग[, ÛयाǓयक सदèय एवं Įी मनीष बोरड, लेखा सदèय के सम¢ Before Shri Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member I.T.A No.104/Kol/2023 Assessment year: 2017-18 Jayanti Roy...............................................................................Appellant C/o subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2 nd Floor, Kolkata-700069. [PAN: ADIPR0466J] vs. ITO, Ward-33(4), Kolkata........................................................Respondent Appearances by: Shri Siddharth Agarwal, Advocate, appeared on behalf of the appellant. Shri P. P. Barman, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : May 23, 2023 Date of pronouncing the order : May 23, 2023 आदेश / ORDER संजय गग[, ÛयाǓयक सदèय ɮवारा / Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 08.12.2022 of the National Faceless Appeal Centre (hereinafter referred to as the ‘CIT(A)’) passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The sole issue raised in this appeal is regarding the cash deposits during demonetisation period. 3. At the outset, the ld. AR of the assessee has brought to our attention to page 6 of the paper-book which is the copy of the bank accounts of the assessee maintained with Allahabad Bank and Bank of I.T.A No.104/Kol/2023 Assessment year: 2017-18 Jayanti Roy 2 Baroda to show that prior to deposits of the said amount in the month of November, the assessee has withdrawn about Rs.45,00,000/- in the month of July 2016. The ld. AR however submitted that the aforesaid deposits were made out of the aforesaid withdrawals. 4. The ld. DR could not rebut that the assessee has withdrawn almost Rs.45,00,000/- which is three or four months prior to deposit of Rs.17,00,000/-, which amount is only 1/3 rd of the withdrawals. 5. It is apparent that the said deposits were out of past withdrawals, therefore, we do not find any reason to sustain the impugned additions and the same are ordered to be deleted. 6. In the result, the appeal of the assessee stands allowed. Kolkata, the 23 rd May, 2023. Sd/- Sd/- [डॉÈटर मनीष बोरड /Dr. Manish Borad] [संजय गग[ /Sanjay Garg] लेखा सदèय /Accountant Member ÛयाǓयक सदèय /Judicial Member Dated: 23.05.2023. RS Copy of the order forwarded to: 1. Jayanti Roy 2. ITO, Ward-33(4), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR),