ISHFAQ AHMAD ZEHGEER,PAMPOSH COLONY vs. ITO, SRINAGAR

ITA 469/ASR/2025Status: DisposedITAT Amritsar17 September 2026AY 2017-183 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted the appeal, condoned the delay, and restored the matter to the CIT(A) for fresh adjudication. The assessee was directed to plead and prove its case regarding the cash deposits.

What were the facts?

The assessee's appeal for AY 2017-18 concerns an addition of Rs. 135.38 Lacs made by the AO on a best judgment basis for cash deposits, which was confirmed by the CIT(A). The assessee sought to remand the matter to substantiate the source of these deposits.

What were the issues?

The primary issue was the assessee's inability to substantiate the source of cash deposits during assessment, leading to a best judgment addition. The appeal raised the question of whether the assessee should be given an opportunity to prove the source.

Which sections of the Income-tax Act were involved?

Section 147,Section 144,Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “DB” BENCH, AMRITSAR

Before: HON’BLE SHRI LALIET KUMAR, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

Manoj Kumar Aggarwal (Accountant Member)

1.

Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC [CIT(A)] dated 29.06.2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 147 r.w.s. 144 r.w.s. 144B of the Act on 20.03.2022. In the assessment order, Ld. AO, on best judgment basis, has made addition of cash deposit for Rs.135.38 Lacs on best judgment basis which stood confirmed by Ld.

The order continues below.

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