Amish Haresh Kumar Parikh Vs ACIT (ITAT Mumbai)
The appeal was filed by the assessee before the Income Tax Appellate Tribunal, Mumbai Bench, challenging the order passed by the Commissioner of Income Tax (Appeals), NFAC, dated 02.01.2025 for Assessment Year 2017–18.
The grounds raised by the assessee included that the penalty levied under section 272A(1)(d) was time-barred, that proper opportunity of being heard was not provided, and that penalty could not be levied when the assessment order was passed under section 143(3) of the Income Tax Act.
From the facts of the case, it was noted that during the course of assessment proceedings, the assessee did not file details relating to a bank account in which cash deposits of ₹11 lakh were made. Due to such non-compliance with notices issued under section 142(1), the Assessing Officer completed the assessment by making additions under section 69A read with section 115BBE on account of unexplained money. Consequently, a penalty of ₹20,000 was imposed under section 272(1)(d) for non-compliance with notices dated 12.10.2019 and 12.11.2019.
However, the Tribunal observed from the assessment records that the assessee had uploaded a reply explaining that the bank account in question was opened by his father, in which ₹11 lakh had been deposited. It was further explained that the assessee was not on talking terms with his parents and had already closed the said account, and therefore could not obtain further details.
