SOVALARAM,CHICKPET BANGALORE vs. DCIT, CENTRAL CIRCLE 3(1), CENTRAL REVENUE BUILDING

ITA 928/BANG/2026Status: DisposedITAT Bangalore21 September 2026AY 2020-2111 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal restored the issues of cash in hand and sundry debtors to the AO for fresh adjudication, allowing the addition for commission receivable and house advance. The general and consequential grounds were dismissed.

What were the facts?

The assessee's appeal arose from an addition of Rs. 17,67,684/- made by the AO under Section 68, which was confirmed by the CIT(A). The assessment was triggered by the seizure of Rs. 29,00,000/- cash from the assessee during elections.

What were the issues?

Whether the additions made under Section 68 towards cash in hand, sundry debtors, commission receivable, and house advance were justified, and whether the assessee had adequately explained the source and nature of these amounts.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 250,Section 132A,Section 234B,Section 234C,Section 271AAC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE

Before: SHRI PRASHANT MAHARISHI & SHRI SANDEEP SINGH KARHAIL

PER SHRI PRASHANT MAHARISHI, VICE PRESIDENT

01.

This appeal is filed by Mr Sovalaram [the Assessee/Appellant] against the appellate order passed by the NATIONAL FACELESS APPEAL CENTRE (NFAC), in which the appeal filed by the assessee against the reassessment order dated 04.02.2025 passed u/s 147 of the Income Tax Act, 1961 (hereinafter referred to as the Act) by the AO, in which an addition of Rs.17,67,684/- has bee

The order continues below.

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