OLIPILLI SURYANARAYANA,UNDI vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJAHMUNDRY

ITA 242/VIZ/2026Status: DisposedITAT Visakhapatnam19 August 2026AY 2018-199 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, finding that the assessee failed to provide sufficient evidence to counter the additions. The cash flow statement was deemed insufficient for the real estate investment, and the lack of evidence for cancellation and refund meant the advance for land purchase was treated as unexplained investment.

What were the facts?

Following a search operation, the assessee's assessment was completed with additions including Rs. 2,25,000/- on a sale agreement, Rs. 6,00,000/- for real estate investment, and Rs. 10,00,000/- for advance land purchase. The CIT(A) partially allowed the appeal but sustained these additions.

What were the issues?

Whether the additions made by the AO and sustained by the CIT(A) for commission income, real estate investment, and advance for land purchase were justified based on the evidence presented by the assessee.

Which sections of the Income-tax Act were involved?

Section 132,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI VIJAY PAL RAO, HON’BLE & SHRI MANJUNATHA G, HON’BLE

For Respondent: Shri Nilanjan Dey, CIT(DR)

PER MANJUNATHA G, AM: This appeal is filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals), Visakhapatnam-3, [hereinafter in short “Ld. CIT(A)”] vide DIN: ITBA/APL/S/250/2025-26/1086631451(1) dated 27-Feb-2026 for the A.Y. 2018-19. ITA 242/VIZ/2026 OLIPILLI SURYANARAYANA

2.

The Assessee has raised the following grounds

The order continues below.

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