VANKAYALA ASHOK,VIZIANAGARAM vs. THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3(1),, VISAKHAPATNAM

ITA 191/VIZ/2026Status: DisposedITAT Visakhapatnam24 July 2026AY 2017-189 pages
AI SummaryRemanded

What did the Tribunal hold?

The ITAT decided to remand the matter back to the Assessing Officer for a fresh assessment. This was due to the submission of new evidence before the ITAT that required examination by the AO.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 58.47 lakhs towards unexplained cash deposits during demonetization. The CIT(A) upheld a significant portion of this addition, rejecting explanations for gifts and sale of HUF property. The assessee appealed to the ITAT, submitting additional evidence not presented earlier.

What were the issues?

Whether the cash deposits made during demonetization were adequately explained by the assessee, and if new evidence submitted at the appellate stage warrants a fresh examination by the AO.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(3),Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

PER SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER:

This appeal is filed by the Assessee against the order of the order of Commissioner of Income Tax (Appeals), National Faceless Appeal

ITA 191/VIZ/2026 Vankayala Ashok Centre (NFAC), Delhi vide D

The order continues below.

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