CHOGALAL PRAKASH CHANDRA,NEEMUCH vs. INCOME-TAX OFFICER, NEEMUCH

ITA 976/IND/2025Status: DisposedITAT Indore10 July 2026AY 2013-1413 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the explanation and supporting documents (pages 40-41 of the paper book) required verification by the Assessing Officer. Therefore, the Tribunal set aside the impugned order and remanded the case back to the Assessing Officer for a detailed inquiry.

What were the facts?

The assessee advanced an unsecured loan of Rs. 7 lakh to M/s UB Investments. The Assessing Officer added this amount to the assessee's income, holding that the sources of this loan were unexplained despite being routed through banking channels. The CIT(A) upheld the addition.

What were the issues?

Whether the assessee's explanation for the source of Rs. 7 lakh advanced as an unsecured loan was satisfactory, and if not, whether the addition made by the Assessing Officer was justified.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 148,Section 250,Section 246A,Section 253

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI MANISH BORAD & SHRI PARESH M. JOSHI

Pronounced: 10.07.2026

Per Paresh M. Joshi, JM:

This is an Appeal filed by the Revenue under section 253 of the Income tax Act 1961, [herein after referred to as the Act

for the sake of brevity] before this tribunal. The Revenue is aggrieved by the order bearing No:-ITBA/APL/S/250/2025-

26/1080411927(1) dated 08.09.2025 passed by the Ld.

CIT(A) u/s 250 of the Act which is hereinafter referred as the “Impugned Order”. The Relevant Assessment Year is 2013-

CHOGALAL PRAKASH CHANDRA ITA No. 976/Ind/2025 AY-2013-2014 2014 and the corresponding Previous Period is from 01/04/2012 to 31/03/2013. 2. FACTUAL MATRIX

2.

1 That as and by way of an Assessment Order made u/s 143(3)/147 dated 16/12/2019 the total Income of

The order continues below.

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