The Hon’ble Supreme Court dismissed an SLP filed by the Department against impugned order of the High Court wherein it was observed that addition made to assessee’s income on account of huge amount deposited in his foreign bank account in Geneva was unjustified since there was no material on record to show that said amount was deposited by assessee and justifiable explanation was given by assessee that said account belonged to his nephew residing in U.K. However, the said SLP was dismissed on the ground of delay of 233 days and also due to the fact that the High Court had noted that no substantial question of law arose in the case. (AY.2006-2007 2007-2008)
PCIT v. Joginder Singh Chatha [2025] 302 Taxman 5 (SC). Editorial : CIT v. Joginder Singh Chatha[2023] 156 taxmann.com 509 (P& H)(HC)
S. 68 : Cash credits-SLP dismissed against High Court’s finding that additions were unjustified-Huge amounts deposited in foreign bank account in Geneva-Assessee pleaded that bank account belonged to nephew situated in UK-Assessee was an agriculturist and his name was struck from the bank account much prior to his visit to Geneva-SLP dismissed also on the ground of delay of 233 days, which was not explained properly.[Art. 136]
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