Vidya Shankar Jaiswal Bhagat Singh Vs ITO (Chhattisgarh High Court)
Summary: The Chhattisgarh High Court, Bilaspur, dismissed an appeal filed by Vidya Shankar Jaiswal Bhagat Singh under Section 260A of the Income-tax Act, 1961, challenging the order dated 13.02.2024 passed by the Income Tax Appellate Tribunal, Raipur Bench in ITA No. 351/RPR/2023. The appeal before the ITAT arose from the order dated 29.03.2023 passed by the CIT(A), National Faceless Appeal Centre, Delhi, which in turn arose from the Assessing Officer’s order dated 16.12.2018 under Sections 144/147 for Assessment Year 2014-15.
Read SC Judgment in this Case: SC Sets Aside ITAT and HC Orders, Condones 166-Day Income Tax Appeal Delay
The appellant had not filed his income-tax return for AY 2014-15. According to the appellant, this was because of illness. The Assessing Officer, on the basis of information available in the Actionable Information Monitoring System of the Income Tax Business Application, assessed his income at Rs. 34,67,700/- and imposed penalty and interest for non-filing of the return within time. The appellant subsequently filed a return on 27.12.2018 declaring total income of Rs. 9,99,250/-.
The Assessing Officer had noticed cash deposits of Rs. 34,67,700/- in the appellant’s savings bank account and, after reopening the case under Section 147, completed a best judgment assessment under Sections 144/147 on 16.12.2018. The entire cash deposit of Rs. 34,67,700/- was treated as unexplained money under Section 69A. The CIT(A) dismissed the appellant’s first appeal after finding that, despite opportunities, he had failed to explain the nature and source of the cash deposits.
