PARMOD BHANDARI, DELHI V. ITO WARD INT.TAX 1(1)(2), Delhi

ITA 605/DEL/2022

AI Insights

The case involves Parmod Bhandari, the appellant, who contested the additions made to his income by the Income Tax Officer, New Delhi, for the assessment year 2017-18. The additions were based on unexplained cash deposits and credits identified during the demonetization period, amounting to Rs. 24,37,900. The CIT(Appeals) reduced the additions after considering the assessee's submissions, but substantial amounts remained added to the income. The Tribunal, after hearing the Departmental Representative and reviewing the materials on record, including the orders of the lower authorities, decided to uphold the CIT(Appeals)'s decision, dismissing the appeal of the assessee.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 108649 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 2 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 04-06-2023
• Assessment Year: misc
• Appeal Filed On: 07-04-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Unexplained cash credit

Judgement Text

1 ITA No. 605/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “D”: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER ITA No. _605/DEL/2022 ssessment Year: 2017-18 Parmod Bhandari, House No. B-11E, DDA Flats MIG, Maya Puri, Delhi-110061. PAN- ALSPB0743N Vs Income-tax Officer, Ward Int. Tax 1(1)(2), New Delhi. APPELLANT RESPONDENT Assessee represented by None Department represented by Shri Sanjay Kumar, Sr. DR Date of hearing 05.06.2023 Date of pronouncement 20.06.2023 O R D E R PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals)-42, New Delhi, dated 10.02.2022, pertaining to the assessment year 2017-18. The assessee has raised following grounds of appeal: “Confirming addition of Rs. 266500/- as unexplained cash deposit in bank account. Confirming addition of Rs. 141400/- as unexplained credit in bank account.” 2 ITA No. 605/Del/2022 2. At the time of hearing no one attended the proceedings despite service of notice for hearing. The assessee has not cared even to apply for adjournment of hearing. Accordingly, we proceed to dispose of the appeal, ex parte, qua the assessee on merits and in that process we have heard learned DR and perused the material available on record. 3. Facts of the case giving rise to the present appeal are that in this case the Assessing Officer had noticed that the assessee had not furnished any return of income for the assessment year 2017-18. On the basis of data analytics and information gathered during the phase of online verification under ‘Operation Clean Money’, the Income Tax Department gathered a list of assessee(s) who had deposited substantial cash in their bank accounts during the demonetization period. As per that data the assessee had deposited cash of Rs. 10,66,500/- in his bank account during the demonetization period. Statutory notice was issued to the assessee but there was no compliance by the assessee. Therefore, the AO proceeded to make addition of the amount deposited in the bank account. Hence, he made addition of Rs. 10,66,500/- and also Rs. 13,71,400/-. Thus he made addition of Rs. 24,37,900/-. Aggrieved against this the assessee preferred appeal before the learned CIT(Appeals), who after considering the material placed before him partly allowed the appeal of the assessee. Thereby, out of addition of Rs. 13,71,400/-, he deleted the amount of Rs. 12,30,000/- and out of addition of Rs. 3 ITA No. 605/Del/2022 10,66,500/- the learned CIT(Appeals) deleted Rs. 8,00,000/-. Still feeling aggrieved, the assessee is in appeal before this Tribunal. 4. We have heard learned DR and perused the material available on record, including the orders of the authorities below. We find that the learned CIT(Appeals) in its reasoned and elaborate order has duly taken into account the evidences in the form of bank details etc., produced by the assessee in support of its claim and has allowed substantial relief to the assessee. We see no reason to interfere in the findings and conclusion arrived at by the learned CIT(Appeals) in its order. Accordingly, the same is upheld. Consequently, grounds of appeal taken by the assessee are dismissed. 5. Appeal of the assessee is dismissed. Order pronounced in open court on 20.06.2023. Sd/- Sd/- (M. BALAGANESH) (KUL BHARAT) ACCOUNTANT MEMBER JUDICIAL MEMBER *MP* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI 4 ITA No. 605/Del/2022