BASAVA NINGAPPA CHALUVADI,BYADGI vs. INCOME TAX OFFICER, WARD-2, DAVANGERE

ITA 2848/BANG/2025Status: DisposedITAT Bangalore08 September 2026AY 2017-1812 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the addition could not be sustained as the assessee had provided sufficient evidence, including loan confirmations, bank statements, and direct payments to suppliers, establishing the genuineness of the transactions. The Tribunal also noted that the basis of addition was changed by the CIT(A) without proper notice to the assessee.

What were the facts?

The assessee, a petrol bunk owner, deposited Rs. 47,06,000 in cash during demonetisation. The AO treated Rs. 28,16,000 as unexplained due to lack of details, and the CIT(A) confirmed this addition.

What were the issues?

Whether cash deposits made during demonetisation are unexplained credits, and if the creditworthiness of the lender is a sole determining factor for sustaining additions.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI WASEEM AHMED & SHRI SANDEEP SINGH KARHAIL

For Respondent: Shri. Balusamy. H, JCIT

PER SHRI WASEEM AHMED, ACCOUNTANT MEMBER:

The present appeal, filed by the Assessee pertaining to A.Y. 2017-18, is directed against the order of the Learned Commissioner of Income Tax (Appeals) under the National Faceless Appeal Centre (hereafter Ld. CIT(A)) passed under section 250 of the Income Tax Act, 1961 (hereafter the Act).

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