The Income Tax Appeal No. ITA 1830/DEL/2022 was filed by Sheo Chand Yadav, residing at House No. 259, Sector-17A, Gurgaon, Haryana-122001, against the Income Tax Officer, Ward-4(2), Gurgaon. The appeal was related to the assessment year 2017-18.
The case was filed on August 16, 2022, and the order was pronounced on August 11, 2023. The appellant was represented by Sh. Sheo Chand Yadav in person, and the respondent was represented by Sh. Anuj Garg, Sr. DR.
The assessee, Sheo Chand Yadav, a retired Defence Service Official, and Mrs. Manju Yadav, spouse of Mr. S.C Yadav, a retired teacher, are regular income tax assesses. They were running Venture News Agency, distributing newspapers through vendors at Bhiwadi.
Sheo Chand Yadav had filed his Income Tax return for A.Y. 2017-18, declaring a gross total income of Rs. 15,13,080/-, including income from rental, pension, and interest. The case was selected for scrutiny under CASS, and the assessment was completed u/s 143(3) of the IT Act, 1961, on December 21, 2019, at an assessed income of Rs. 36,07,935/-, with an addition of Rs. 20,94,855/- as unexplained money u/s 69A.
Aggrieved by the order, the assessee filed an appeal. After hearing both parties and examining the material, it was found that the cash deposits were explained, and the addition made by the AO was deleted. The appeal of the assessee was allowed.
Order Pronounced in the Open Court on 11/08/2023.
Sd/- Sd/-
(Yogesh Kumar US) (Dr. B. R. R. Kumar)
Judicial Member Accountant Member
Dated: 11/08/2023
*Ajay Kumar Keot, Sr. PS*
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR
Income Tax Appeal No. ITA 1830/DEL/2022: Sheo Chand Yadav vs. ITO Ward 4(2), Gurgaon
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