PRADIP KUMAR JAIN ( HUF) ,NALBARI vs. ITO WARD- NALBARI , NALBARI

ITA 316/GTY/2026Status: DisposedITAT Guwahati28 July 2026AY 2017-188 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal rejected the AO's redrafted balance sheet and the assessee's claimed opening cash balance due to inconsistencies and lack of evidence. The case was remitted back to the AO for de novo consideration.

What were the facts?

The assessee deposited Rs. 54,00,000/- in cash during the demonetization period. The Assessing Officer (AO) treated Rs. 18,00,000/- as unexplained cash deposit, which was confirmed by the CIT(A). The assessee claimed the cash was from previous years.

What were the issues?

Whether the cash deposits made during demonetization were adequately explained and substantiated by the assessee, and the correctness of the AO's redrafted balance sheet.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, GUWAHATI BENCH, GUWAHATI

For Appellant: Shri Kishor Jain, FCA
For Respondent: Shri Santosh Kumar Karnani, Addl. CIT
Hearing: 13.07.2026Pronounced: 28.07.2026

PER LAXMI PRASAD SAHU, ACCOUNTANT MEMBER

This is an appeal filed by the assessee against the order passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) by the Ld. Addl./Joint Commissioner of Income Tax (Appeals)-9 Mumbai [hereinafter referred to as “the Ld. CIT(A)] dated 12.03.2026 DIN & order No. ITBA/APL/S/250/2025-26/1087271696(1) on the following grounds of appeal:

2 Pradip Kumar Jain (HUF) 1. “For that on the facts and circumstances of the case the order passed u/ s 143(3) and u/s 250 are bad in law Rs. 0. 2. 2 For that on the facts and circumstances of the case as well as on the points of law the Assess

The order continues below.

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