NALIN GANPATBHAI PATEL,SURAT vs. ITO, WARD 1(3)(8), SURAT

ITA 749/SRT/2025Status: DisposedITAT Surat06 August 2026AY 2017-188 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal. It held that the addition made by the Assessing Officer was based on surmises, as the assessee had provided a complete reconciliation of stamp paper purchases and sales, including other items sold. The Tribunal deleted the addition.

What were the facts?

The assessee's appeal was filed belatedly by 256 days due to issues with notice service and internet facilities. The Assessing Officer made an addition of Rs. 32,52,880/- on account of alleged difference in sales and purchase of stamp papers, treating it as unexplained investment.

What were the issues?

Whether the addition made by the Assessing Officer on account of alleged difference in stamp paper sales and purchases is sustainable. Whether the assessee's explanation for the cash deposits generated from stamp paper sales is acceptable.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(3),Section 250,Section 271AAC(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC”

Before: Dr. Arjun Lal Saini

For Appellant: Shri P M Jagasheth, CA
For Respondent: Shri Ajay Uke, Sr. DR
Hearing: 11/05/2026

Per, Dr. Arjun Lal Saini, AM: Captioned appeal filed by the assessee, pertaining to Assessment Year 2017- 18, is directed against the order passed under section 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) by Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC) Delhi, dated 05.08.2024, which in turn arises out of an order passed by the Assessing Officer u/s 143(3) of the Act, on 23.12.2019. 2. When the matter was called for hearing, the learned Counsel for the assessee at the outset submitted that

The order continues below.

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