Cash in hand to be shown in the Income Tax Return

Last updated: 07 August 2021

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Quick Summary

This Income Tax Appellate Tribunal (ITAT) ruling addresses the importance of declaring cash in hand in an Income Tax Return. The case involved an assessee whose return was selected for scrutiny specifically to verify the cash in hand declared. Despite opportunities, the assessee failed to appear before the tax authorities, leading to additions being sustained. Ultimately, the appeal was allowed for statistical purposes.

Court :
INCOME TAX APPELLATE TRIBUNAL DELHI BENCH

Brief :
This appeal filed by the assessee is directed against the ex parte order dated 7th June, 2019 of the CIT(A)-15, New Delhi, relating to assessment year 2016-17.

Citation :
ITA No.5530/Del/2019

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH : SMC-2 : NEW DELHI
BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER
ITA No.5530/Del/2019
Assessment Year: 2016-17

Bhupesh Kumar,
380, 1st Floor, Block-B,
Sector-19, Dwarka,
New Delhi.
PAN: AHMPK6335M

Appellant

Vs ITO,
Ward 43(3),
New Delhi.

Respondent

Assessee by : None
Revenue by : Shri Vijay Kumar Kataria, Sr. DR
Date of Hearing : 26.07.2021
Date of Pronouncement : 26.07.2021

ORDER

This appeal filed by the assessee is directed against the ex parte order dated7th June, 2019 of the CIT(A)-15, New Delhi, relating to assessment year 2016-17.
2. None appeared on behalf of the assessee despite issue of notice through RPAD. Therefore, this appeal is being decided on the basis of material available on record and after hearing the ld. DR.

3. Facts of the case, in brief, are that the assessee is an individual and filed his return of income on 30th December, 2016 declaring the total income at Rs.3,45,440/-. The case was selected for scrutiny to verify the cash in hand shown
in the income-tax return.

4. Since the assessee did not appear before the CIT(A) despite two opportunities granted, the ld.CIT(A), in the ex parte order passed by him, sustained the addition made by the AO.

5. In the result, the appeal filed by the assessee is allowed for statistical purposes.

Pronounced in the open court at the time of hearing itself i.e., on
26.07.2021.

Please find attached the enclosed file for the full judgement

FAQ :

The main issue was the verification of 'cash in hand' declared by the assessee in their Income Tax Return.

The case was selected for scrutiny specifically to verify the amount of cash in hand shown in the assessee's income tax return.

When the assessee did not appear before the Commissioner of Income Tax (Appeals) despite being granted opportunities, the additions made by the Assessing Officer were sustained.

The appeal filed by the assessee was allowed for statistical purposes.