MANOHAR MAL JAIN, BHILAI,BHILAI vs. ITO, WARD-2(1), BHILAI, BHILAI

ITA 523/RPR/2026Status: HeardITAT Raipur06 July 2026AY 2017-1823 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the additions made by the AO under Section 69A were unfounded and arbitrary. Following previous judicial pronouncements, the Tribunal directed the AO to delete the additions, finding that the assessee had provided sufficient explanation and documentary evidence for the cash deposits.

What were the facts?

The assessee deposited cash in his bank accounts during the demonetization period. The Assessing Officer (AO) found discrepancies in the denominations of cash withdrawn from a home loan and cash deposited, and also noted inconsistencies in the assessee's claimed cash-in-hand. The AO treated the cash deposits as unexplained income under Section 69A.

What were the issues?

Whether the cash deposits made by the assessee during the demonetization period were unexplained income. Whether the assessee had provided sufficient evidence to substantiate the source and nature of the cash deposits.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE

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 Ravi Agrawal, CA
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 03.07.2026Pronounced: 06.07.2026

PER PARTHA SARATHI CHAUDHURY, JM:

The present appeal preferred by the assessee emanates from the order of the Ld.CIT(Appeals)/NFAC, Delhi dated 19.05.2026 for the assessment year 2017-18 as per the grounds of appeal on record.

2.

In this case, the A.O has recorded his findings from Para 2.1 to 4.2 which are extracted as follows: “2.1 The assessee was required to explain the source of cash deposits in his account and produce books of account maintained, if any. The ass

The order continues below.

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