NAVIN KUMAR KOCHAR,CUTTACK, ODISHA vs. ITO, WARD 1(1), CUTTACK, CUTTACK, ODISHA

ITA 579/CTK/2026Status: DisposedITAT Cuttack17 September 2026AY 2017-20184 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the amounts deposited in the bank account were disclosed in the assessee's cash book, which tallied with business transactions and was not disputed by the revenue. Since the cash book formed the basis for the returned income, the deposits could not be treated as unexplained income.

What were the facts?

The assessee deposited Rs. 75,29,900/- during the demonetization period. The Assessing Officer made an addition on the grounds that the assessee failed to provide details of debtors and confirmations. The assessee contended that the deposits were out of opening cash balance, cash sales, and collections from debtors, and that their books of account were not rejected.

What were the issues?

Whether cash deposits made during the demonetization period, which are explained by the assessee's cash book and business transactions, can be treated as unexplained income.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI GEORGE MATHAN & SHRI GOPALAN GURUSAMY

Hearing: 17/09/2026Pronounced: 17/09/2026

Per Bench: This is an appeal filed by the assessee against the order of the NFAC, DELHI [hereinafter referred to as the ‘CIT(A)’] in appeal no.NFAC/2016-17/10243223 dated 20.04.2026 for the assessment year 2017-18. 2. Shri K.K.Bajoria, AR appeared on behalf of the assessee and Shri Vijay Singh, Sr. D.R. represented on behalf of the revenue.

3.

It was submitted by the ld. AR that the only issue in the assessee’s appeal is against the addition of Rs.75,29,900/- deposited during the demonetization period. It was the submission that th

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

Recent GST High Court judgments

Search GST case law →