K R PRADEEP,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1(3), BENGALURU

ITA 428/BANG/2026Status: DisposedITAT Bangalore19 August 2026AY 2018-197 pages
AI SummaryDismissed

What were the facts?

The assessee's appeal stemmed from additions made by the Assessing Officer (AO) regarding unaccounted foreign currency and disallowance under Section 14A. The Tribunal had previously set aside these issues for fresh consideration by the AO. During the set-aside proceedings, the AO again added Rs. 48.38 Lakhs as unexplained money under Section 69A, which was confirmed by the CIT(A).

What did the Tribunal hold?

The Tribunal held that the assessee's submissions regarding the foreign currency lacked merit due to contradictory statements and a failure to provide satisfactory documentary evidence. The Tribunal found no infirmity in the CIT(A)'s order confirming the addition.

What were the issues?

Whether the addition of foreign currency under Section 69A was justified, and whether the proceedings were barred by limitation.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 14A,Section 153(5),Section 153(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI BALAKRISHNAN S & SHRI KESHAV DUBEY

For Respondent: Shri. Pradeep S - Addl. CIT
Pronounced: 19.08.2026

PER SHRI BALAKRISHNAN S, ACCOUNTANT MEMBER:

This appeal is filed by the Assessee against the order of Ld. Commissioner of Income Tax Appeals-11 vide DIN: ITBA/AST/M/143(3)/2023-24/1063567437(1) dated 08-Jan-2026 for the Assessment Year 2018-19. 2. The assessee has e-filed return of income for the Assessment Year 2018-19 on 31/10/2018, declaring total income of Rs. 5,88

The order continues below.

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