BIPIN VINODKANT LODHAVIA,MUMBAI vs. ACIT 32(1), MUMBAI

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ITA 7507/MUM/2025Status: DisposedITAT Mumbai09 June 2026AY 2011-1213 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the additions made on account of unexplained investment and notional interest were unsustainable as they were not based on cogent evidence. The Tribunal noted the denial of transactions by both parties and the lack of corroborative material from the assessee's premises.

What were the facts?

The Assessing Officer (AO) reopened the assessment based on information from a search in another entity's case, alleging the assessee advanced a cash loan. The assessee denied any such transaction and requested cross-examination of third-party witnesses.

What were the issues?

Whether the reopening of assessment was valid and if the additions for unexplained investment and notional interest were substantiated by evidence.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3),Section 69,Section 132(4)

AI-generated summary — verify with the full judgment below

Before: SMT. BEENA PILLAI & SHRI PRABHASH SHANKAR

For Appellant: Shri Rahul Hakani,AR
For Respondent: Shri Swapnil Choudhari, (Sr. AR.)
Hearing: 16.04.2026Pronounced: 09.06.2026

आदेश की प्रयियलयि अग्रेयिि/Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आयुक्त / CIT विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT, 4. Mumbai 12

ITA No.7507 AND 7508/Mum/2025; Bipin Vinodkant Lodhavia. 5. गार्ड फाईल / Guard file. सत्यावपि प्रवि //True Copy// आदेशानुसार/ BY ORDER,

उि/सहायक िंजीकार (Dy./Asstt. Registrar) आयकर अिीलीअयधकरण

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