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Ex-Parte NFAC Order Confirming Section 68 Addition Set Aside — ITAT Allahabad Restores Appeal in Ramdas vs. DCIT, Circle-1, Allahabad (AY 2014-15)
Facts of the CaseThe assessee, an individual engaged in the civil
construction business, filed his return of income for Assessment Year 2014-15
declaring total income of ₹20,91,500. The Assessing Officer issued notic...
Presumptive Tax under Section 44AE Upheld for Truck Income but Commission Deposits Remanded — ITAT Allahabad in Dilshad Husain vs. ACIT, Circle-1, Allahabad (AYs 2009-10 & 2011-12)
Facts of the CaseThe assessee, a small transport dealer, filed returns showing
modest income from plying trucks. Information from AIR indicated substantial
cash deposits in his bank account. For Assessment Year 2009-10...
Demonetization Cash Deposits Addition under Section 69A Set Aside — ITAT Allahabad Grants Fresh Opportunity in Pushpendra Bahadur Singh vs. ITO, Mirzapur (AY 2017-18)
Facts of the CaseBased on data analytics and information gathered under
“Operation Clean Money,” the Income Tax Department found that the assessee had
deposited ₹13,78,500 in his bank account during the demonetiz...
Ex-Parte NFAC Order Set Aside for Lack of Opportunity — ITAT Allahabad Restores Appeal in M/s Dibya Construction Co. vs. DCIT, Circle-3, Mirzapur (AY 2014-15)
Facts of the CaseThe assessee, M/s Dibya Construction Co., engaged in the
business of civil contracts, filed its return of income for Assessment Year
2014-15 declaring total income of ₹40,85,310. The case was selecte...
Cash Deposits During Demonetization Treated as Undisclosed Income Set Aside — Lokhit Gram Vikas Seva Samiti vs. ITO (Exemption), Allahabad (ITAT Allahabad)
Facts of the CaseThe assessee, Lokhit Gram Vikas Seva Samiti, a registered
society engaged in running educational activities, maintained bank accounts
with HDFC Bank. Information was received by the Income Tax Departme...
Capital Introduction, Unsecured Loans & Demonetization Cash Deposits — ITAT Allahabad Orders Fresh Verification of Evidence in Vipin Gupta vs. ITO Ward-2(3), Allahabad (ITA No.88/ALLD/2024, AY 2017-18)
Facts of the CaseThe assessee filed his return declaring income of ₹4,30,350.
During scrutiny, the Assessing Officer noticed fresh capital introduction,
unsecured loans from several persons, and substantial cash depo...
Ex-Parte Assessment for Cash Deposits Set Aside and Matter Remanded for Fresh Adjudication — Smt. Iris Henry vs. ITO, Ward-1(2), Allahabad (ITAT Allahabad)
Facts of the CaseBased on information available with the Income Tax
Department, the assessee, Smt. Iris Henry, had deposited cash amounting to
₹51,30,000 in her bank account with Punjab National Bank during the relev...
Cash Deposits in Joint/Personal Accounts Cannot Be Taxed Without Examining Ownership — ITAT Allahabad Restores Appeal in Vijay Singh vs. ITO-1(5), Allahabad (ITA No.113/ALLD/2024, AY 2017-18)
Facts of the CaseThe assessee, an individual deriving salary income, had not
originally filed a return for the relevant year as his income was below the
taxable threshold. Information was received regarding deposits in...
Ex-Parte Reassessment on Bank Deposits Set Aside — ITAT Allahabad Remands Case Where Section 68 Applied Without Books Evidence in Sushil Kumar Mishra vs. DCIT Circle-1, Allahabad (ITA No.128/ALLD/2024, AY 2011-12)
Facts of the Case The Assessing Officer observed that the assessee had
deposited ₹46,18,300 in bank accounts and initiated reassessment proceedings
under section 147. Due to non-compliance with notices, a best j...
Pawned Jewellery Found in Relative’s Locker — Income Taxable in Hands of Real Beneficiary, Not License Holder Alone: ITAT Allahabad in Smt. Laxmi Devi vs. ACIT/DCIT (Central Circle), Allahabad (ITA Nos.42–44/Alld/2023, AYs 2013-14 to 2015-16)
Facts of the CaseA search under section 132 was conducted in the Hari Om
Rastogi group on 02.07.2018. During the search, a bank locker belonging to the
assessee’s son and daughter-in-law was also covered. Pawned jewe...