SHUBHANGI DHRAMSHEEL BODELE,NAGPUR vs. INCOME TAX OFFICER, NAGPUR

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ITA 718/NAG/2025Status: DisposedITAT Nagpur13 April 2026AY 2015-20163 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the investment of Rs. 1.50 lakh was made on 28.06.2011, which falls under AY 2012-13. Therefore, the addition made for AY 2015-16 was incorrect.

What were the facts?

The assessee's appeal pertains to AY 2015-16, challenging an addition of Rs. 1.50 lakh for unexplained investment. The assessee argued that the investment was made in AY 2012-13, not the year under appeal.

What were the issues?

Whether an addition for investment can be made in an assessment year when the investment was actually made in a different assessment year.

Which sections of the Income-tax Act were involved?

Section 147,Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR ‘SMC’ BENCH, NAGPUR

Before: DR.MANISH BORAD

For Appellant: Shri Moshin A Hada
For Respondent: Shri Surjit Kumar Saha
Hearing: 10.03.2026Pronounced: 13.04.2026

आदेश / ORDER The captioned appeal at the instance of assessee pertaining to A.Y. 2015-16 is directed against the order dated 22.09.2025 framed by National Faceless Appeal Centre, Delhi arising out of Rectification Order dated 06.12.2021 passed u/s. 147 r.w.s.144B of the Income Tax Act, 1961 (in short ‘the Act’).

2.

The sole grievance of the assessee is against the addition for unexplained investment of Rs.1.50 lakh allegedly made with M/s. Wasankar Wealth Management Pvt. Ltd.

3.

At the outset, ld. Counsel for the assessee submitted that during the year under consideration assessee has made investment with M/s. Wasankar Wealth Management Pvt.

ITA No.718/NAG/2025 Shubhangi Dhramsheel Bodele

Ltd. and referred to the page 4 of the paper book showing the receipt issued by M/s. Wasankar Wealth Management Pvt. Ltd. Ld. Counsel for the assessee stated that sum of Rs.1.50 lakh was invested on 28.06.2011 which falls in A.Y. 2012-13 and therefore no addition deserves to be made in the year under appeal.

4.

On the other hand, ld. DR supported the order of ld.CIT(A).

5.

I have heard the rival contentions and perused the record placed before me. Addition of Rs.1.50 lakh has been made in the hands of assessee for the alleged investment in M/s. Wasankar Wealth Management Pvt. Ltd. Ld. Counsel for the assessee with help of bank statement of the assessee has demonstrated that no such investment has been made during the year under consideration. Further, a copy of receipt of investment made with M/s. Wasankar Wealth Management Pvt. Ltd. has been filed at page 4 of the paper book which shows that Rs.1.50 lakh was invested by the assessee with M/s. Wasankar Wealth Management Pvt. Ltd. on 28.06.2011. Since the year of investment of Rs.1.50 lakh falls under A.Y. 2012-13, I find that the impugned addition could not have been made for the year under consideration. I therefore delete the addition of Rs.1.50 lakh made in the hands of assessee. Grounds of appeal raised by the assessee are allowed.

ITA No.718/NAG/2025 Shubhangi Dhramsheel Bodele

6.

In the result, the appeal of the assesee is allowed.

Order pronounced on this 13th day of April, 2026.

Sd/- (MANISH BORAD) ACCOUNTANT MEMBER

Nagpur/ दिन ांक / Dated : 13th April, 2026. Satish

Digitally signed by Satish Kumar Madishetty Satish Kumar Madishetty Date: 2026.04.15 16:19:02 +05'30'

आदेश की प्रतिलिपि अग्रेपिि / Copy of the Order forwarded to : अपील र्थी / The Appellant. 1. प्रत्यर्थी / The Respondent. 2. 3. The Pr. CIT concerned. विभ गीय प्रतितनधि, आयकर अपीलीय अधिकरण, न गपुर SMC बेंच, 4. न गपुर / DR, ITAT, “Nagpur SMC Bench, Nagpur ग र्ड फ़ इल / Guard File. 5. आिेश नुस र / BY ORDER,

// True Copy // Assistant Registrar, आयकर अपीलीय अधिकरण, न गपुर/ ITAT, Nagpur

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