RAJENDRA SHINDE,BELGAUM vs. DY/ASST COMMISSIONER CENTRAL CIRCLE, BELGAUM

PDF · subscribers
ITA 80/PAN/2025Status: DisposedITAT Panaji07 September 2026AY 2021-2231 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that a portion of the seized cash (Rs. 48,54,510/-) was unexplained and taxable under Section 69A read with Section 115BBE. However, the estimated profit on unaccounted sales was considered part of business income and not subject to Section 115BBE.

What were the facts?

During a search, unaccounted cash of Rs. 1,08,54,150/- was found, which the assessee initially admitted as his income. Seized diaries revealed unaccounted sales and expenses, and unexplained bank credits were also noted.

What were the issues?

Whether seized cash and bank credits constitute unexplained income, and whether estimated profits from unaccounted sales are taxable under Section 115BBE or as business income.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 40A(3),Section 131(1A),Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH, ‘DB’ PANAJI

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Appellant: Shri Pramod Vaidhya, Adv
For Respondent: Smt. Poonam Sharma, DR (virtual)
Hearing: 11.06.2026Pronounced: 07.09.2026

आदेश की प्रतिलिपि अग्रेपिि / Copy of the Order forwarded to : अपील र्थी / The Appellant. 1. प्रत्यर्थी / The Respondent. 2. 3. The Pr. CIT concerned. विभ गीय प्रतितनधि, आयकर अपीलीय अधिकरण, Panaji 4. ‘DB’ Bench / DR, ITAT, Panaji ‘DB’ Bench ग र्ड फ़ इल / Guard File. 5.

आिेश नुस र / BY ORDER,

// True Copy // Assistant Registrar, आयकर अपीलीय अधिकरण, Panaji/ ITAT, Panaji

More judgments on Section 69A

All 15,297 judgments and leading authorities on Section 69A →

Recent GST High Court judgments

Search GST case law →