PAWAN BHATIA,AMRITSAR vs. ACIT -CIRCLE 1, C R REVENUE BUILING AMRITSAR

ITA 340/ASR/2026Status: DisposedITAT Amritsar28 July 2026AY 2017-186 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the cash deposits were explained by the assessee's disclosed professional receipts and that taxing them again would amount to double taxation. It also ruled that the assessee was entitled to depreciation on the solar plant as it was installed and used for business purposes.

What were the facts?

The assessee, a doctor, deposited Rs. 78,65,000 in cash during demonetization, explaining it as professional receipts. The AO treated a portion as unexplained cash credit, disallowing depreciation on a solar plant despite evidence of its installation and use.

What were the issues?

Whether cash deposits made during demonetization are unexplained credit if explained by disclosed professional receipts, and whether depreciation is allowable on a solar plant installed for captive consumption.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 145(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DIVISION BENCH, ‘DB’ AMRITSAR

Before: SHRI M. BALAGANESH AM, &

Hearing: 27.07.2026Pronounced: 28.07.2026

PER M. BALAGANESH, AM: This appeal has been preferred by the assessee against the order passed by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, dated 17.02.2026 for Assessment Year 2017-28. Appeal in ground Nos. 1 to 8 raised by the assessee are 2. challenging the confirmation of addition made U/s 68 r.w.s. 115BBE of the Income Tax Act, 1961 (in short ‘the Act’) in the sum of Rs. 78,65,000/- on account of cash deposit made in the bank account.

2 340/Asr/2026

3.

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The order continues below.

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