NITESH CHAINS PRIVATE LIMITED,AGRA vs. DCIT, CIRCLE-2(1)(1), AGRA

ITA 380/AGR/2026Status: DisposedITAT Agra22 July 2026AY 2017-186 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the assessee failed to furnish required details regarding silver transactions to the CIT(A). Therefore, the matter was remitted back to the CIT(A) for fresh adjudication after providing an opportunity to the assessee to submit the required details.

What were the facts?

The assessee deposited Rs. 85,07,359/- in cash during the demonetization period, claiming it was from cash sales. The Assessing Officer treated this as unexplained income and made an addition under Section 68 read with Section 115BBE. The CIT(A) sustained the addition.

What were the issues?

Whether the cash deposits during demonetization were sufficiently explained by the assessee's cash sales, and whether the CIT(A) properly considered the evidence provided.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 143(3),Section 145(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA(DB

Before: SUNIL KUMAR SINGHBRAJESH KUMAR SINGH

For Appellant: Shri. Anurag Sinha, Adv
For Respondent: Shri Anil Kumar, Sr DR
Hearing: 20.07.2026Pronounced: 20.07.2026

PER:SUNIL KUMAR SINGH, JUDICIAL MEMBER The facts and issues involved in both these appeals are almost identical, hence, for the sake of convenience and brevity, these appeals are being decided by this common order. The facts of ITA No. 379/Agr/2026 are only being narrated as under.

2.

This appeal is directed against the impugned order dated 25.02.2026 passed in appeal No CIT(Appeal) 2, Agra/10735/2019-20 by the ld. Commissioner of Income Tax/ NFAC

ITA No.379&380/Agr/2026

(Delhi) (hereinafter referred to as the “CIT(A) u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) for A.Y. 2017-18, wherein ld CIT(A) has sustained the impugned addition of Rs. 85,

The order continues below.

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