SHRI CHANDRASHEKHAR N. AYACHI, GANDHIDHAM,RAJKOT-GUJARAT vs. THE ADDL. CIT, GANDHIDHAM

ITA 281/RJT/2014Status: DisposedITAT Rajkot31 July 2019AY 2009-106 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal deleted additions related to certain depositors after reviewing the evidence provided by the assessee and noting the AO's lack of further investigation. However, additions for other depositors were sustained due to insufficient primary information.

What were the facts?

The assessee failed to provide sufficient evidence for certain bank deposits and investments. The Assessing Officer made additions to the income based on unexplained credits and investments. The CIT(A) dismissed the assessee's appeal.

What were the issues?

Whether the additions made by the Assessing Officer on account of unexplained deposits and investments were justified, considering the evidence produced by the assessee and the AO's investigation.

Which sections of the Income-tax Act were involved?

Section 68,Section 69,Section 69A,Section 131

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAJKOT BENCH, RAJKOT

Before: Shri Rajpal Yadav & Shri Amarjit Singh

For Appellant: Shri Kalpesh Doshi, A.R
For Respondent: Shri Kalpesh Doshi, A.R

PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee’s appeal for A.Y. 2009-10, arises from order of the CIT(A)-II, Rajkot dated 31-03-2014, in proceedings under section 143(3) of the Income Tax Act, 1961; in short “the Act”

2.

The assessee has raised following grounds of appeal:- “1 That, the Ld. CIT(A) has passed the order without giving proper opportunity of being heard, as the Assessing Officer has not complied with the direction given in the remand report and Ld. CIT(A) has passed the order on the basis of such incomplete remand report. 2 That, the Ld. CIT (A) has wrongly confirmed the addition of Rs. 37,02,006/- on account of unexplained deposit u/s 68 of the I.T. Act.

I.T.A No. 281/

The order continues below.

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