INCOME TAX OFFICER-3(1), RAIPUR, RAIPUR vs. NANDIKA CONSULTANCY SERVICES PVT. LTD., RAIPUR

ITA 458/RPR/2026Status: DisposedITAT Raipur21 September 2026AY 2015-169 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the deletion of the addition, agreeing with the CIT(A) that repayment of loans through banking channels, accepted by the Revenue, establishes the genuineness of the transactions and negates the addition under Section 68.

What were the facts?

The Assessing Officer made an addition of Rs. 51,54,110/- on account of alleged unexplained unsecured loans and interest. The CIT(A) deleted this addition, holding that the loans and interest were repaid through banking channels and the Revenue had accepted this repayment.

What were the issues?

Whether an addition under Section 68 for unexplained cash credit is sustainable when the alleged loan and interest have been repaid through banking channels and this repayment is accepted by the Revenue?

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH, “DB” RAIPUR

Before: SHRI R.K PANDA & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Ravi Agrawal, CA
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 05.08.2026Pronounced: 21.09.2026

Heard together (2 matters)

ITA No.458/RPR/2026
CO No.21/RPR/2026

Read from the judgment's own cause title. This page is filed under one of them.

PER PARTHA SARATHI CHAUDHURY, JM: The present appeal preferred by the Revenue and corresponding cross objection by the assessee emanates from the order of the Ld.ADDL/JCIT(A)-2, Mumbai, dated 30.06.2026 for the assessment year 2015-16 as per the grounds of appeal on record.

2.

The sole dispute in this appeal relates to deletion of addition of Rs.51,54,110/- (comprising Rs.50,00,000/- as the principal am

The order continues below.

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