VINOD KUMAR,AMBALA CANTT vs. ITO WARD-5, AMBALA, AMBALA

ITA 173/CHANDI/2026Status: DisposedITAT Chandigarh14 July 2026AY 2010-113 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the assessee's claim of sourcing deposits from earlier withdrawals was not entirely accepted. However, considering the possibility of accumulated savings, 60% of the deposit amount was accepted as explained, while the remaining 40% was confirmed as an addition.

What were the facts?

The assessee deposited Rs. 21.40 Lacs in cash into their bank account, claiming it was for share trading and from land sale advances. The Assessing Officer made an addition for the unexplained cash deposits. The assessee also reflected a loss on shares and income from other sources, which was set off.

What were the issues?

The primary issue was the genuineness of the source of cash deposits made by the assessee and whether the same could be explained through share trading activities or land sale advances.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 71

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, CHANDIGARH

1.

Aforesaid appeal by assessee for Assessment Year (AY) 2010- 11 arises out of an order of learned Addl. / Joint Commissioner of Income Tax (Appeals), Kochi [CIT(A)] dated 29.11.2025 in the matter of an assessment framed by Ld. AO u/s 143(3) r.w.s. 147 on 21.12.2017 wherein Ld. AO made addition of cash deposited by the assessee in State Bank of Bikaner & Jaipur Bank Account for Rs.21.40 Lacs. The assessee merely stated that the deposits were utilized to carry out shares trading activ

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →