Sh. Varun Gupta, Delhi Vs ITO, New Delhi Details

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Last updated: 30 October 2020
Quick Summary
This case involves an appeal by Varun Gupta against an Income Tax Officer's order concerning unexplained cash deposits. Mr. Gupta declared a modest income, but the tax authorities noted significant cash deposits totalling £5,700,240 into his bank accounts, which were not declared. Despite requests, Mr. Gupta failed to provide satisfactory explanations or documentation for the source of these funds, leading the Assessing Officer to add the entire amount to his taxable income under Section 68 of the Income Tax Act.

Court :
ITAT New Delhi

Brief :
This is an appeal filed by the assessee against the order of the Id CIT(A)-21, New Delhi dated 12.08.2015 for the Assessment Year 2011-12 wherein the appeal filed by the assessee against the order passed u/s 143 (3) of the act by the income tax officer Ward 47 (4), New Delhi dated 20 March 2014 was dismissed.

Citation :
ITA No. 5889/Del/2015

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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