AJAY VERMA,NAGPUR vs. ITO WARD 4(3), NAGPUR

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ITA 129/NAG/2026Status: DisposedITAT Nagpur13 April 2026AY 2018-194 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the revised Tax Audit Report, clarifying the transaction as a loan given by the assessee, was not placed before the lower authorities. Therefore, the matter was remitted back to the Assessing Officer for re-examination.

What were the facts?

The Assessing Officer made an addition of Rs. 34,25,361/- under Section 68 for unexplained cash credit, based on the Tax Audit Report indicating a loan repayment. The assessee claimed this was a clerical error and the transaction was actually a loan given by the assessee, not received.

What were the issues?

Whether the addition under Section 68 was justified when the assessee claimed a clerical error in the Tax Audit Report and presented a revised report indicating a loan given rather than received.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

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

Before: DR.MANISH BORAD

For Appellant: Shri Ayush Bagadia
For Respondent: Shri Surjit Kumar Saha
Hearing: 18.03.2026Pronounced: 13.04.2026

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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