IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “B”, LUCKNOW BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA No.344/LKW/2024 Assessment Year: 2014-15 Shri Muhammad Zameer Qureshi v. The PCIT

180, Azam Nagar Bareilly Bareilly TAN/PAN:AACPZ6783H (Appellant) (Respondent)

Appellant by: Shri P. K. Kapoor, C.A.

Respondent by: Shri Neeraj Kumar, CIT(DR)

O R D E R

PER SUDHANSHU SRIVASTAVA, J.M.:

This appeal has been preferred by the assessee against order dated 22.03.2024, passed by the Ld. Principal Commissioner of Income Tax, Bareilly (PCIT) under section 263 of the Income Tax Act, 1961 (hereinafter called “the Act’) for Assessment Year 2012-13.

2.0 The brief facts of the case are that the assessee filed his return of income for the year under consideration under section 139(4) of the Act on 30.03.2015, declaring total income of Rs.2,19,810/-. The Income Tax Department was in possession of information that during the year under consideration, the assessee had received huge credits, totaling to Rs.61,63,31,042/-

in his Bank Accounts No. 019205004909, maintained with ICICI Bank, Bareilly, No. 205010200009737, maintained with Axis Bank Ltd. a