NARENDRA MAHADEV AWATE,PUNE vs. INCOME TAX OFFICER, WARD 9(1), AKURDI

ITA 2430/PUN/2025Status: DisposedITAT Pune18 August 2026AY 2022-2314 pages
AI SummaryRemanded

What were the facts?

The assessee's return of income was selected for scrutiny. The Assessing Officer (AO) made additions to the assessee's income based on information from a search in another company, disallowing salary deductions, and treating unsecured loans and investments as unexplained cash credits.

What did the Tribunal hold?

The Tribunal found that the Revenue authorities had not appreciated the facts properly and that the assessee might be able to substantiate his case with further details. Therefore, the issue was restored to the Assessing Officer for a fresh decision.

What were the issues?

Whether unsecured loans and investments were sufficiently substantiated by the assessee to avoid additions as unexplained cash credits, and whether salary deductions were wrongly disallowed.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 16

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI R. K. PANDA & Ms. ASTHA CHANDRA

For Appellant: Shri Kishor B Phadke
For Respondent: Ms. Bhavya I.V., Jt. CIT

PER R.K. PANDA, VP:

This appeal filed by the assessee is directed against the order dated 19.08.2025 of the Ld. CIT(A) / NFAC, Delhi relating to assessment year 2022-23. 2. Facts of the case, in brief, are that the assessee is an individual and a part time employee at M/s. Technomax Industries, Wanowri, Pune. He filed his return of income on 27.07.2022 declaring total income of Rs.4,93,540/- consisting of income from salary from M/s. Technomax Industries, profit from business u/s 44AD and income from other sources. The return was processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’). The case of the 2 assessee was selected for scrutiny and accor

The order continues below.

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