DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1, RAIPUR, NAWA RAIPUR vs. SUNIL KUMAR AGRAWAL, RAIGARH

ITA 495/RPR/2026Status: DisposedITAT Raipur21 September 2026AY 2023-2446 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the CIT(Appeals) was justified in deleting the additions. The CIT(Appeals) found that the assessee's explanations, supported by documentary evidence and settled legal principles, were acceptable, and the AO's additions were based on an incorrect appreciation of facts.

What were the facts?

The Revenue appealed against the deletion of additions made by the Assessing Officer (AO) concerning unexplained cash, investments in silver articles, and disallowed interest expenses. The assessee claimed the cash represented family members' holdings and sale proceeds, while investments were supported by book entries and bank transactions.

What were the issues?

Whether the CIT(Appeals) was justified in deleting additions made by the AO on account of unexplained cash and investments, and disallowed interest expenses, despite the assessee providing explanations and documentary evidence.

Which sections of the Income-tax Act were involved?

Section 69A,Section 132(4)

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 Amit Maloo Jain, Advovate
For Respondent: Shri Rituparna Namdeo, CIT-DR
Hearing: 06.08.2026Pronounced: 21.09.2026

PER PARTHA SARATHI CHAUDHURY, JM: The captioned appeals preferred by the Revenue emanates from the respective orders of the Ld.CIT(Appeals), Raipur-3 dated 31.03.2026 & 30.03.2026 for t

The order continues below.

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