MUKESH K. JAIN,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, PUNE

ITA 5287/MUM/2024Status: DisposedITAT Mumbai12 August 2026AY 2018-201910 pages
AI SummaryRemanded

What were the facts?

During a search, an Excel sheet was seized containing entries related to the assessee's flat booking, including alleged cash and cheque payments. The Assessing Officer treated the entire amount as unexplained investment. The Commissioner (Appeals) restricted the addition to the cash and cheque components.

What did the Tribunal hold?

The Tribunal held that the undated, third-party loose papers without independent corroboration regarding the actual payment and the year of payment cannot sustain the addition. The assessee's claim of payment through banking channels requires verification.

What were the issues?

Whether the addition made based on undated seized documents without independent corroboration is valid. Whether the assessee's claim of payments through banking channels needs verification.

Which sections of the Income-tax Act were involved?

Section 132,Section 153,Section 69,Section 115BB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES, MUMBAI

Before: HON’BLE NARENDER KUMAR CHOUDHRY, JUDICIAL & HON’BLE JAGADISH

For Appellant: Shri Rakesh Joshi, Ld. A.R
For Respondent: Shri Arun Kanti Datta,Ld.DR
Pronounced: 12.08.2026

PER: NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER: This appeal has been preferred by the Assessee against the order dated 30.07.2024, impugned herein, passed by the Ld. Commissioner of Income Tax (Appeals) (in short, “Ld. Commissioner”) under section 250 of the Income Tax Act, 1961 (in short, “the Act”), for the A.Y. 2018-19. ITA N o.5 287/M UM/ 2024 M ukesh Kanti lal Ja in 2. The brief facts relevant for the adjudication of the instant appeal are that a search and seizure action under section 132 of the Act was carried out in the cases of Shri Yuvraj S. Dhamale an

The order continues below.

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