PRIYAM DAS,HOWRAH vs. INCOME TAX OFFICER WARD 25(1), KOLKATA

ITA 1929/KOL/2026Status: DisposedITAT Kolkata16 September 2026AY 2020-214 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the cash was received by the assessee on behalf of the company and was duly accounted for in the company's books, which were also confirmed by the company. Therefore, Section 69A was wrongly invoked.

What were the facts?

The assessee, a director of M/s Plaudit Techno India Limited, deposited ₹28,85,990/- cash into his bank accounts. He claimed this cash was collected on behalf of the company for debenture settlement, which was subsequently transferred to the company and accounted for in its books.

What were the issues?

Whether the cash deposited by the assessee in his bank accounts, claimed to be on behalf of a company, constitutes unexplained money under Section 69A when it is subsequently transferred to and accounted for by the company.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, KOLKATA

For Appellant: Shri Soumitra Choudhury &
For Respondent: Shri Praveen Das Chowdhury, DR
Hearing: 24.08.2026Pronounced: 16.09.2026

Per Rajesh Kumar, AM:

This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 27.04.2026 for the AY 2020-21. 2. The only issue raised by the assessee is against the order of ld. CIT (A) confirming the addition of ₹28,85,990/-as made by the ld. AO on account of unexplained money u/s 69A of the Act.

3.

The facts in brief are that the case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Priyam Das; A.Y. 2020-21 Act on 21.03.2024. During the course of assessment proceedings, the assessee complied with the said notice by fili

The order continues below.

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