PRANAV KUMAR DAS,RAJNANDGAON vs. INCOME TAX OFFICER-1 RAJNANDGAON, RAJNANDGAON

ITA 242/RPR/2026Status: DisposedITAT Raipur07 July 2026AY 2015-167 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal considered the explanation provided by the assessee regarding the loan, past savings, and declared agricultural income. The AO's addition was based on unexplained investment, and the assessee provided documentary evidence for a portion of the funds.

What were the facts?

The assessee purchased an immovable property for Rs. 65 lakhs from his father. The Assessing Officer (AO) made an addition of Rs. 24,42,170/- as unexplained investment under Section 69 of the Income Tax Act. The assessee explained the source of funds through a loan from a third party, past savings, and declared agricultural income.

What were the issues?

The primary issue was whether the investment made by the assessee in the immovable property was sufficiently explained to the satisfaction of the AO, or if it constituted unexplained investment.

Which sections of the Income-tax Act were involved?

Section 69

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH “SMC”, RAIPUR

Before: SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Rakesh Dhody, CA
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 06.07.2026Pronounced: 07.07.2026

PER PARTHA SARATHI CHAUDHURY, JM The present appeal preferred by the assessee emanates from the order of the Ld.CIT(Appeals)/NFAC, Delhi dated 29.01.2026 for the assessment year 2015-16 as per the grounds of appeal on record.

2.

At the time of hearing, the Ld. Counsel for the assessee submitted that this is a case where addition has been made by the A.O u/s. 69 of the Income Tax Act, 1961 (for short ‘the Act’) as unexplained investment which was confirmed by the Ld. CIT(App

The order continues below.

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