SURESHBHAI NATHUBHAI PATEL,SURAT vs. ITO WARD 1, BARDOLI, SURAT

ITA 1343/SRT/2025Status: DisposedITAT Surat18 August 2026AY 2017-185 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had provided sufficient evidence of agricultural income and other sources like maturity of mutual funds and fixed deposits, which explained the cash deposits. Therefore, the addition made by the AO was not justified.

What were the facts?

The assessee deposited Rs. 16,26,000/- in cash into his bank accounts during the demonetization period. The Assessing Officer (AO) made an addition of this amount under Section 68 of the Income Tax Act as unexplained cash credits.

What were the issues?

Whether the cash deposits in bank accounts during demonetization were unexplained cash credits, and if Section 115BBE was applicable for taxation at a higher rate.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: MS. SUCHITRA KAMBLE & SHRI B.M. BIYANI

For Appellant: Ms. Chaitali Shah, CA
For Respondent: Shri Ashish Kumar, Sr.DR
Hearing: 16.06.2026Pronounced: 18.08.2026

PER : SUCHITRA KAMBLE, J M:

The appeal filed by the assessee is against the order passed by the Learned Commissioner of Income Tax (Appeals), ADDL/JCIT(A) [in short “CIT(A)”], Nashik dated 07.08.2025 for the Assessment Year (in short “AY”) 2017-18. 2. The assessee has raised the following grounds of appeal:

“1. Appellant craves leave to add, alter OR DLEETE any ground(s) either before OR in course of hearing of the appeal.

2.

On the facts and circumstances of the case as well as law on the subject, the learned CIT(A) has erred in confirming the action of assessing officer in making the addition of Rs. 16,26,000/- u/s. 68 of the I.T. Act on account of alleged unexplained cash credits in bank accounts. Sureshbhai Nathubhai Patel

The order continues below.

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