SANJEEV DESAI,NEW DELHI vs. DCIT, DELHI

ITA 3447/DEL/2026Status: DisposedITAT Delhi04 August 2026AY 2011-20125 pages
AI SummaryAllowed

What were the facts?

The assessee received Rs. 84,00,000/- from a family friend, which was treated as a loan. The Assessing Officer reopened the assessment and added this amount under Section 56(2)(vii)(a) as income from undisclosed sources, considering it a gift.

What did the Tribunal hold?

The Tribunal held that the amount was a loan, not a gift, supported by a confirmation letter from the lender and the lender's Will bequeathing the amount to the assessee's wife. Therefore, the addition under Section 56(2)(vii)(a) was unjustified.

What were the issues?

Whether the reassessment proceedings were validly initiated and whether the amount received was a loan or a gift taxable under Section 56(2)(vii)(a).

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 151,Section 143(3),Section 143(2),Section 56(2)(vii)(a)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘A’, NEW DELHI

For Appellant: Shri Rajat Garg, C.A
For Respondent: Shri Balkishan Gopal, Sr. D.R
Hearing: 04.08.2026Pronounced: 04.08.2026

PER NAVEEN CHANDRA, ACCOUNTANT MEMBER :

The instant appeal filed by the assessee is directed against the order dated 04.02.2026 passed by the ld. Commissioner of Income-tax (Appeals)-24, New Delhi [hereinafter referred to as the ‘Ld. CIT(A)’] arising from the assessment order under section 143(3) r.w.s 147 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] dated 29.12.2018 passed by the Assessing Officer, Income Tax Officer, Ward- 52(4), New Delhi for the Assessment Year 2011-12. [A.Y 2011-12]

2.

Assessee filed the following grounds of appeal as under: 1.1 “That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in upholding the validity of notice issued u/s 148 of the In

The order continues below.

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