SMT BALJIT KAUR,AMRITSAR vs. INCOME TAX OFFICER WARD(1)-, AMRITSAR

ITA 513/ASR/2025Status: DisposedITAT Amritsar17 September 2026AY 2015-164 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found merit in the assessee's argument regarding cash withdrawals offsetting deposits and directed the AO to re-verify the claim. However, the invocation of Section 68 for undisclosed bank deposits was upheld.

What were the facts?

The assessee declared an income of Rs. 2.45 Lacs, but an undisclosed bank account with cash deposits of approximately Rs. 48 Lacs was discovered. The assessee claimed this was from embroidery work done by employees, but these employees could not be traced.

What were the issues?

Whether cash deposits in an undisclosed bank account can be treated as income from other sources and added under Section 68, and if the assessee can substantiate the source of these deposits with cash flow statements.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3)

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) 2015-16 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC [CIT(A)] dated 22.05.2025 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 143(3) of the Act on 28.12.2017. Having heard rival submissions, the appeal is disposed- off as under.

2.

The assessee declared income of Rs.2.45 Lacs which was scrutinized to examine t

The order continues below.

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