MANISHBHAI NAGJIBHAI SA vs. AVIYA,SURAT

ITA 1421/SRT/2025Status: DisposedITAT Surat17 September 2026AY 2017-185 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal granted relief of Rs. 2,50,000/- based on CBDT instructions, sustaining the remaining addition. For the tax rate, the Tribunal followed the favorable view of the Madras High Court, holding that the pre-amended rate of 30% under Section 115BBE would apply.

What were the facts?

The assessee deposited Rs. 37,00,000/- in cash during the demonetization period. The Assessing Officer added this entire amount as unexplained income. The CIT(A) allowed a part of the deposit as explained, confirming an addition of Rs. 11,96,600/-.

What were the issues?

Whether the cash deposit during demonetization is unexplained income, and whether the higher tax rate under Section 115BBE is applicable.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: MS. SUCHITRA KAMBLE & SHRI B.M. BIYANI

For Appellant: Shri Ashwin K. Parekh, CA
For Respondent: Shri Ashish Kumar, Sr. DR
Hearing: 14.09.2026Pronounced: 17.09.2026

Per B.M. Biyani, A.M.: Feeling aggrieved by the order of first appeal dated 03.12.2025 passed by learned Commissioner of Income-Tax (Appeals)-NFAC, Delhi [“CIT(A)”], which in turn arises out of the assessment-order dated 21.12.2019 passed by learned ITO, Ward-3(2)(9), Surat [“Ld. AO”] u/s 143(3) of Income-tax Act, 1961 [“the Act”] for Assessment-Year [“AY”] 2017-18, the assessee has filed this appeal. Manishbhai Nagjibhai Savsaviya

2.

The background facts leading to present appeal are such that the assessee-individual filed his return of income of AY 2017-18 declar

The order continues below.

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