MAKABA KARIYAPPA VENKATESH,CHITRADURGA vs. ITO WARD-1, CHITRADURGA, CHITRADURGA

ITA 925/BANG/2026Status: DisposedITAT Bangalore21 September 2026AY 2020-218 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the assessee had discharged the initial onus under Section 68 by establishing the identity, creditworthiness, and genuineness of the loan transactions. The addition made by the Assessing Officer was therefore not sustainable.

What were the facts?

The assessee received unsecured loans totaling ₹19,10,000, which the Assessing Officer treated as unexplained income under Section 68. The assessee provided confirmations from lenders, their IT returns, and bank statements to establish the genuineness of the loans. The CIT(A) dismissed the assessee's appeal ex parte.

What were the issues?

Whether the loans received by the assessee were genuine and properly explained under Section 68 of the Income Tax Act, and whether the procedural requirements for reopening and faceless assessment were followed.

Which sections of the Income-tax Act were involved?

Section 68,Section 147,Section 144,Section 144B,Section 148,Section 151,Section 151A,Section 250,Section 234A,Section 234B,Section 234F,Section 271AAC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI PRASHANT MAHARISHI

PER SHRI PRASHANT MAHARISHI, VICE PRESIDENT

1.

Shri Makaba Kariyappa Venkatesh [the Assessee/Appellant] has filed this appeal against the appellate order dated 31 December 2025 passed by the National Faceless Appeal Centre [the Ld. CIT(A)] for assessment year 2020–21. By that order, the assessee’s appeal against the reassessment order passed under section 147 read with sections 144 and 144B o

The order continues below.

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