BIRMANA GRAM SEWA SAHAKARI SAMITI LTD.,SRIGANGANAGAR vs. ITO, WARD, SRIGANGANAGAR

ITA 479/JODH/2025Status: DisposedITAT Jodhpur22 September 2026AY 2015-165 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the credit and debit entries in the bank account represented loans given and recovered, which was the assessee's primary activity. The AO failed to provide credible material to justify the addition made on a presumptive business profit basis.

What were the facts?

The assessee, an Association of Persons, allegedly did not file its return of income. The Assessing Officer (AO) reopened the assessment based on information about cash deposits in the assessee's bank account. The AO estimated profit on a presumptive basis due to the assessee's non-participation in assessment proceedings.

What were the issues?

Whether the AO was justified in treating bank deposits as business income and estimating profit on a presumptive basis without sufficient evidence. Whether the assessee's explanation of loans given and recovered was acceptable.

Which sections of the Income-tax Act were involved?

Section 147,Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH, JODHPUR

Before: SHRI SAKTIJIT DEY, HON’BLE & SHRI MAKARAND VASANT MAHADEOKAR, HON’BLE

For Respondent: Ms. Nidhi Nair, Addl. CIT-DR (Physically)
Pronounced: 22.09.2026

Per: Shri Saktijit Dey, Vice President: The present appeal of the assessee arises out of order dated 27.03.2025 passed by National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2015- 16. 2 Asst. Year: 2014-15

2.

Though, the assessee has raised grounds both on legal issues as also on merits, however, at the time of hearing, on instructions, learned c

The order continues below.

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