DCIT, CENTRAL CIRCLE-4, SURAT, SURAT vs. HITESHKUMAR BABULAL RAMANI, SURAT

ITA 174/SRT/2024Status: DisposedITAT Surat27 July 2026AY 2016-1751 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s deletion of additions. It found that the assessee had provided sufficient evidence regarding the source of loans and cash, including explanations for opening balances and confirmation from parties involved in transactions.

What were the facts?

The revenue appealed against the CIT(A)'s deletion of additions made by the AO for unexplained cash credit, sundry creditors, and unexplained cash in hand. The AO had made these additions based on the assessee's failure to provide sufficient evidence for the genuineness and creditworthiness of the parties involved.

What were the issues?

Whether the CIT(A) erred in deleting additions related to unexplained cash credit, sundry creditors, and cash in hand without proper justification. Whether the assessee discharged the onus to prove the genuineness and creditworthiness of transactions.

Which sections of the Income-tax Act were involved?

Section 68,Section 69

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: Shri T. R. Senthil Kumar & Shri Ratnesh Nandan Sahay

For Appellant: Shri Rasesh Shah, C.A
For Respondent: Shri Mukesh Jain, CIT-DR
Hearing: 07/05/2026Pronounced: 27/07/2026

PER: RATNESH NANDAN SAHAY, AM:

1.

This is an appeal filed by the revenue against the order of the learned Commissioner of Income Tax (Appeals)-4, Surat [In short, ‘the ld. CIT(A)’] dated 27/12/2023 for the assessment year (AY) 2016-17, wherein the revenue has raised following grounds of appeal:

"

1.

On the facts and in the circumstances of the case and in law the leaned CIT(A) erred in deleting the addition of Rs.5,00,00,000/- made by the AO towards unexplained income and bogus credits observing that the sundry creditors pertained to the immediately preceding year and not for the year under consideration, it represented opening

The order continues below.

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