SWARNA KRISHNAMURTHI,BANGALORE vs. INCOME TAX OFFICER, WARD-4(2)(1), BANGALORE

ITA 2607/BANG/2025Status: DisposedITAT Bangalore22 September 2026AY 2017-187 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the assessee had sufficient cash withdrawals and other income sources to explain the Rs. 1,75,000 deposit. Therefore, the addition was deleted.

What were the facts?

The assessee deposited Rs. 10,25,000 in cash during demonetisation. The Assessing Officer treated Rs. 5,25,000 as unexplained, and the CIT(A) confirmed an addition of Rs. 1,75,000.

What were the issues?

Whether the cash deposit of Rs. 1,75,000 during demonetisation was unexplained money and liable for addition.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI PRASHANT MAHARISHI & SHRI SANDEEP SINGH KARHAIL

PER SHRI PRASHANT MAHARISHI, VICE PRESIDENT

1.

Smt. Swarna Krishnamurthi, the assessee/appellant, has filed this appeal for Assessment Year 2017-18 against the appellate order dated 28 February 2025 passed by the Commissioner of Income Tax (Appeals)-4, Mumbai [the learned CIT(A)]. By that order, the learned CIT(A) dismissed the assessee’s appeal against the as

The order continues below.

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