RAJIV RAMANLAL SHETH,SURAT vs. INCOME TAX OFFICER, WARD 2(1)(4), SURAT, SURAT

ITA 307/SRT/2026Status: DisposedITAT Surat27 July 2026AY 2017-201813 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the orders of the lower authorities, finding no infirmity in the assessment order. The CIT(A) had confirmed the addition after considering the assessee's explanations and analyzing the deposits and withdrawals.

What were the facts?

The assessee deposited cash amounting to Rs. 27,32,500/- in their bank account during the demonetization period. The Assessing Officer added Rs. 4,00,000/- as unexplained money under Section 69A, which was confirmed by the CIT(A).

What were the issues?

Whether the cash deposits made during demonetization were sufficiently explained by the assessee, and if the addition of Rs. 4,00,000/- under Section 69A was justified.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH (SMC

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

For Appellant: Shri Mihir Gandhi, C.A
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 ADDL/JCIT(A)-4, Bengaluru [In short, ‘the ld. CIT(A)’] dated 06/01/2026 for the assessment year (AY) 2017-18 wherein the assessee has raised following grounds of appeal:

"

1.

That on facts and circumstances of the case the learned AO as well as CIT(A) has erred in sustaining addition on account of unexplained money of Rs. 4,00,000/- u/s 69A of the IT Act without understanding the facts and merits of the case.

2.

That on the facts and in the circumstances of the case, CIT(A) has erred in low and on facts in sustaining the addition made by the Ass

The order continues below.

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