Home › Income-Tax Act › Sanjay Kapur v. ACIT (2022) 138 taxmann.com 206 (Delhi)(HC) Editorial : SLP of assessee dismissed as withdrawn, Sanjay Kapur v. ACIT (2022) 287 Taxman 225 /113 CCH 160 (SC)

Sanjay Kapur v. ACIT (2022) 138 taxmann.com 206 (Delhi)(HC) Editorial : SLP of assessee dismissed as withdrawn, Sanjay Kapur v. ACIT (2022) 287 Taxman 225 /113 CCH 160 (SC)

S. 147 : Reassessment-Deposit of cash in Bank-Unexplained money-Demonetization deposit-No supporting evidence was available-Reassessment notice was justified. [S. 69A, 148, Art. 226]

Assessee deposited Rs. 11.40 lakhs in cash in his bank account during demonetization.  Though said entry was reflected in his return of income, yet no supporting evidences were available to prove source of such deposit. Reassessment notice was challenged. High Court dismissed the petition.  referred  Raymond Woollen Mills Ltd. v. ITO (1999) 236 ITR 34 (SC). (AY.  2017-18)