VIKASH BAFNA,KOLKATA V. I.T.O., WARD - 30(4), KOLKATA, KOLKATA

ITA 1192/KOL/2024

AI Insights

This case involves an appeal by Vikash Bafna against the order of the CIT (A), NFAC, Delhi for the Assessment Year 2017-18. The primary issue in the appeal was the treatment of a cash deposit of Rs.12,79,500 in the assessee's bank account, which was considered by the AO as unexplained cash deposit. The assessee argued that this amount was received from an agreement with The Smart Shop Travel & Beyond, operated by Hermes, and that the income from this agreement had been disclosed in previous returns. The Tribunal found merit in the assessee's request to reconcile the bank entries with the payments to Hermes and thus restored the matter to the AO for further examination.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 712055 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-07-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Assessment Year: 2017-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SHANKAR NASKAR
• Assessee Lawyers: AMIT AGARWAL
• Keywords: Business income; Opportunity of being heard

Judgement Text

" आयकर अपीलीय अधिकरण, “एस.एम.सी” न्यायपीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA श्री जाजज माथन, न्याययक सदस्य क े समक्ष । BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER आयकर अपील सं/ITA No.1192/KOL/2024 (नििाारण वर्ा / Assessment Year :2017-18) Vikash Bafna 26/6, Hindustan Park Gariahat Kolkata-700029 Vs ITO, Ward 30(4), Aaykar Bhavan, Dakshin, 2, Gariahat Road, Kolkata-700031 PAN No. : AHCPB 7851 M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee by : Shri Amit Agarwal, AR राजस्व की ओर से /Revenue by : Shri Shankar Naskar, Sr. DR सुनवाई की तारीख / Date of Hearing : 23/07/2025 घोषणा की तारीख/Date of Pronouncement : 23/07/2025 आदेश / O R D E R This is an appeal filed by the assessee against the order of the ld. CIT (A), NFAC, Delhi for the Assessment Year 2017-18. 2. Shri Amit Agarwal, ld AR appeared on behalf of the assessee. Shri Shankar Naskar, ld.Sr. DR appeared on behalf of the revenue. 3. It was submitted by the ld. AR that the AO has treated the cash deposit in assessee's bank account to an extent of Rs.12,79,500/- as unexplained cash deposit in the hands of the assessee. It was the submission that these were amounts received by the assessee on account of its agreement with The Smart Shop Travel & Beyond operated by one Hermes. It was submitted that the agreement with Hermes was on 12.06.2014 and the assessee had also been disclosing the income therefrom. It was the submission that the assessee has transferred the funds to Hermes also which has not been considered by the AO. It was the submission that admittedly the assessee has not reconciled the bank Printed from counselvise.com ITA No.1192/KOL/2024 2 account, cash deposit with the payments to Hermes. It was the prayer that the issues in this appeal may be restored to the file of ld. AO so that the assessee could reconcile the entries 4. In reply, ld. Sr. DR filed his written submissions, which reads as under:- Printed from counselvise.com ITA No.1192/KOL/2024 3 Printed from counselvise.com ITA No.1192/KOL/2024 4 Printed from counselvise.com ITA No.1192/KOL/2024 5 Printed from counselvise.com ITA No.1192/KOL/2024 6 5. It was the submission that the assessee has been filing its return of income in ITR-2, which is made for individual and having no business income. It was the submission that the assessee has claimed that the cash deposit which are also out of past savings but no cash as has been disclosed by the assessee. It was the submission that the arguments now placed before the Tribunal are only afterthought. 6. I have considered the rival submissions. As the ld. AR has categorically submitted that he would be in a position to produce the reconciliation of the bank entries and the cash entries with the payments to Hermes, therefore, in the interest of justice, the issues in this appeal are restored to the file of the ld. AO for readjudication afresh after providing adequate opportunity of being heard to the assessee. The assessee is directed to cooperate with the ld. AO in the readjudication proceedings positively. 7. In the result, appeal of the assessee is partly allowed for statistical purposes. Order dictated and pronounced in the open court on 23/07/2025. Sd/- (जाजज माथन) (GEORGE MATHAN) न्यानयक सदस्य / JUDICIAL MEMBER कोलकाता Kolkata; ददनाांक Dated 23/07/2025 Prakash Kumar Mishra, Sr.P.S. Printed from counselvise.com ITA No.1192/KOL/2024 7 आदेश की प्रनतललपप अग्रेपर्त/Copy of the Order forwarded to : आदेशािुसार/ BY ORDER, (Assistant Registrar) Income Tax Appellate Tribunal, Kolkata 1. अपीलाथी / The Appellant- 2. प्रत्यथी / The Respondent- 3. आयकर आयुक्त(अपील) / The CIT(A), 4. आयकर आयुक्त / CIT 5. विभागीय प्रविविवि, आयकर अपीलीय अविकरण, कोलकाता / DR, ITAT, Kolkata 6. गार्ज फाईल / Guard file. सत्यापपत प्रयत //True Copy// Printed from counselvise.com "