Avikal Maskara Vs ITO (ITAT Ranchi)
The ITAT Ranchi heard the appeal filed by the assessee, Avikal Maskara, challenging an order dated March 26, 2024, passed by the CIT(A), NFAC, Delhi, for the Assessment Year (AY) 2017-18.
The assessee, who is a partner in Mahabir Marketing Solutions and a Director in M/s Eon Sales Enterprises Private Limited, submitted that the core issue involved a cash deposit of ₹23,51,700/- made in a Bank of Baroda account belonging to M/s Eon Sales Enterprises Private Limited. The key fact presented was that the PAN number attached to this company bank account was incorrectly linked to the individual assessee’s PAN. Because the cash deposit showed up in the assessee’s PAN details, the Assessing Officer (AO) treated the amount as unexplained income of the individual assessee.
The assessee’s authorized representative (AR) stated that the assessee had no objection if the issue was restored to the file of the AO for verification as to whether the bank account belonged to the company. The Senior Departmental Representative (Sr. DR) countered that the assessee had not produced any evidence to show that the assessee’s PAN number was wrongly attached to the said bank account.
The ITAT considered the submissions and noted that a perusal of the assessment order showed the AO himself accepted that the bank account belonged to M/s Eon Sales Enterprises Private Limited, although it was connected to the assessee’s PAN. The assessee claimed to have written to the bank regarding the mistake of attaching the wrong PAN.
