M/S GANPAT PANNALAL,HARDA vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

ITA 809/IND/2025Status: DisposedITAT Indore17 September 2026AY 2016-1710 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the addition of Rs. 37,01,999/- was not justified as the opening cash balance was a brought-forward amount from audited accounts and the Assessing Officer did not provide material to prove it was unexplained income for the relevant year.

What were the facts?

The assessee's assessment for AY 2016-17 was reopened based on reasons related to increased partner capital and unexplained cash balance. The Assessing Officer made an addition of Rs. 37,01,999/- due to the difference in opening and closing cash balances.

What were the issues?

Whether the reassessment was validly initiated and if the addition on account of cash balance difference was justified without rejecting the books of account.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3),Section 145(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI PARESH M. JOSHI & SHRI ARVIND SONI

For Appellant: Shri Milind Wadhwani, Amit Goyal & Ms
For Respondent: Shri Binay Kumar Rai, Sr, DR
Hearing: 31.08.2026Pronounced: 17.09.2026

PER ARVIND SONI, ACCOUNTANT MEMBER:

This appeal has been filed by the assessee against the order dated 22.09.2025 passed by the National Faceless

Appeal Centre (NFAC), Delhi [hereinafter referred to as "the ld. CIT(A)"] for Assessment Year 2016-17 arising out of assessment order framed under section 147 read with section 144B of the Income-tax Act, 1961 ("the Act").

M/s Ganpat Pannalal

2.

The brief facts of the case are that the assessee filed the return of income for Assessment Year 2016-17 on 27.03.2018 declaring total income of Rs.23,41,800/-. The case was selected for limited scrutiny u/s 143(3) of the Income

Tax Act 1961. Notice u/s 143(2) issued ITO-1 Har

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →