DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1, RAIPUR, NAWA RAIPUR vs. AMIT AGRAWAL, BILASPUR

ITA 493/RPR/2026Status: DisposedITAT Raipur21 September 2026AY 2022-2332 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found discrepancies between the assessee's statement and seized material regarding cash transactions and loans. The matter was remanded to the AO for fresh verification and adjudication.

What were the facts?

A search operation was conducted on the assessee's premises, leading to the reopening of cases and the assessee offering undisclosed income. The Assessing Officer (AO) made additions based on unrecorded transactions and cash loans.

What were the issues?

The key issues involved the taxability of unrecorded cash transactions and cash loans, and whether they should be taxed at normal rates or under Section 115BBE, and the validity of additions made under Section 69A.

Which sections of the Income-tax Act were involved?

Section 132,Section 148,Section 115BBE,Section 69A

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 R.B Doshi, CA
For Respondent: Shri Rituparna Namdeo, CIT-DR
Hearing: 06.08.2026Pronounced: 21.09.2026

PER PART

The order continues below.

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