AMRUTBHAI CHHOTUBHAI PATEL,SURAT vs. ACIT, CIRCLE-3(2), SURAT

ITA 1378/SRT/2025Status: DisposedITAT Surat27 July 2026AY 2016-175 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found it appropriate to restore the matter back to the Assessing Officer for re-examination. The assessee is directed to cooperate and submit all relevant details to substantiate the entries.

What were the facts?

The assessee received unsecured loans of ₹ 27,50,000/- from two parties. The Assessing Officer added this amount as unexplained cash credit as the assessee failed to furnish sufficient evidence regarding the genuineness and creditworthiness of the creditors.

What were the issues?

Whether the assessee discharged the burden of proof under Section 68 by providing sufficient evidence for the genuineness and creditworthiness of unsecured loans.

Which sections of the Income-tax Act were involved?

Section 68

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 Rajesh Upadhyay, A.R
For Respondent: Ms. Neerja Sharma, Sr. DR
Hearing: 06/05/2026Pronounced: 27/07/2026

PER: RATNESH NANDAN SAHAY, AM:

1.

This is an appeal filed by the assessee against the order of the ld. Addl./JCIT(A)-7, Mumbai [In short, ‘the ld. CIT(A)’] dated 10/11/2025 for the assessment year (AY) 2016-17 wherein the assessee has raised following grounds of appeal:

"

1.

Ld. CIT[A] has erred in law and on fact to uphold AO's addition of ₹ 27,50,000/- made u/s 68 of the Act on account of unsecured loans received from two parties i.e. (i) M/s Ambaji Textiles ₹ 10,00,000/- and (ii) Shri Krishna M Bhikadiya ₹ 17,50,000/- ignoring the fact that the appellant has duly discharged his burden in terms of section 68 of the Act."

2.

Facts of the case, in brief,

The order continues below.

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