ARYAVRAT COOP (U) T/C SOCIETY LIMITED,DELHI vs. ITO WARD 63(1), DELHI

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ITA 5442/DEL/2026Status: DisposedITAT Delhi29 July 2026AY 2017-182 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the appeal back to the Assessing Officer for reconsideration and factual verification of the cash deposits. This was done in the interest of justice, allowing the assessee three opportunities for hearing.

What were the facts?

The assessee received cash deposits of Rs. 27,97,500 from its members. The Assessing Officer and the lower appellate authority treated these deposits as unexplained cash credits under Section 68 of the Income Tax Act.

What were the issues?

Whether cash deposits received from members can be treated as unexplained cash credits under Section 68 without proper factual verification.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

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

Before: Sh. Satbeer Singh Godara

For Appellant: Shri Mani Bhadra Jain, Adv. (VC)
Hearing: 08.07.2026Pronounced: 08.07.2026

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’, NEW DELHI

Before Sh. Satbeer Singh Godara, Judicial Member ITA No. 5442/Del/2026 : Asstt. Year: 2017-18

Aryavrat Coop (U) T/C Society Limited, Vs ITO, Ward 63(1), 409, Gali Mata Wali, Teliwara, New Delhi Delhi- 110 006 (PAN: AABAA1956B) (APPELLANT) (RESPONDENT)

Assessee by : Shri Mani Bhadra Jain, Adv. (VC) Revenue by : Sh. Nirmal Nangia, Sr. DR.

Date of Hearing: 08.07.2026 Date of Pronouncement: 08.07.2026

ORDER This assessee’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & Order No. ITBA/NFAC/S/250/- 26/1086892517(1) dated 05.03.2026, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case file perused.

2.

It emerges during the course of hearing that the assessee presses

for its sole substantive ground on merits challenging both the learned

lower authorities’ action treating the cash deposit of Rs.27,97,500/-,

received from its Members as unexplained cash credit u/s. 68 of the

Act, in the assessment order dated 16.12.2019 and upheld in the lower

appellate discussion.

3.

The assessee has filed its detailed paper book running into 202 pages

thereby explaining the source of the impugned cash deposits from its

2 Members only. It is therefore deemed appropriate in the larger interest

of justice to restore the assessee’s instant appeal back to the Assessing

Officer for necessary reconsideration and factual verification, within

three effective opportunities of hearing at the appellant’s risk and

responsibility only. Ordered accordingly.

3.

In the result, this assessee’s appeal is allowed for statistical purposes. . Order Pronounced in the Open Court on 08/07/2026.

Sd/- (Satbeer Singh Godara) Judicial Member

Dated: 29/07/2026 SR BHATNAGAR Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR

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