MAHESH K PATEL,VADODARA vs. ITO, WARD 1(1), BHARUCH

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ITA 1000/SRT/2024Status: DisposedITAT Surat07 April 2026AY 2012-133 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the deposits in the bank accounts were duly explained by the assessee. Therefore, no addition was warranted in the hands of the assessee.

What were the facts?

The Assessing Officer made an addition of Rs. 7,21,500/- on account of cash and non-cash deposits in the assessee's bank accounts. The assessee provided detailed explanations and evidence for these deposits, including sale proceeds of immovable property and transfers.

What were the issues?

Whether the cash and non-cash deposits in the assessee's bank accounts were unexplained income.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT “SMC BENCH, SURAT

Before: DR. BRR KUMAR & MS. SUCHITRA KAMBLE

For Respondent: Shri Ashish Kumar, Sr. DR
Hearing: 21.01.2026Pronounced: 07.04.2026

IN THE INCOME TAX APPELLATE TRIBUNAL SURAT “SMC BENCH, SURAT BEFORE DR. BRR KUMAR, VICE PRESIDENT & MS. SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No.1000/Srt/2024 (Assessment Year: 2012-13) Mahesh K Patel, Vs. Income Tax Officer 171, Pratham Residency, BH. Sugam Ward-1(1), Park No. 2, Dabhoi Waghodia Ring Bharuch Road, Vadodara-390019 [PAN No.BLCPP3505M] (Appellant) .. (Respondent) Shri Mehul K Patel, AR Appellant by : Respondent by: Shri Ashish Kumar, Sr. DR Date of Hearing 21.01.2026 Date of Pronouncement 07.04.2026 O R D E R PER SUCHITRA KAMBLE - JUDICIAL MEMBER: The appeal filed by the assessee is against the order passed by the Ld. Commissioner of Income Tax (Appeals) (in short “Ld. CIT(A)”), ADDL/JCIT(A), Madurai on 14.06.2024 for A.Y. 2012-13.

2.

At the outset, we observe that the appeal is time barred by 09 days. The delay of 09 days is condoned on due consideration of facts and owing to smallness of delay causing no perceptible prejudice to other side.

3.

The assessee has raised the following grounds of appeal:

“1.0 The learned Commissioner of Income Tax (Appeals), NFAC erred in law and on facts has confirmed the additions of Rs. 5,46,500/- on account of deposits in the bank accounts as unexplained income of the appellant disregarding the evidences and explanations submitted by the appellant. 2.0 The appellant craves leave to add to, alter, delete or modify the above ground of appeal either before or at the time of hearing of this appeal.”

ITA No. 1000/Srt/2024 Mahesh K Patel vs. ITO Asst. Year –2012-13 - 2–

4.

The Assessing Officer made addition of Rs. 7,21,500/- based on the cash deposits and non-cash deposits found in the bank account of the assessee.

5.

Before us, the assessee has given complete details of the cash deposits and the sources of the non-cash deposits. The same are as under:

Date Debit(Rs.) Credit(Rs.) Remarks, if any 18.04.20211 75,000 Sale proceeds of immovable property 04.06.2011 7,50,000 Sale proceeds of immovable property 08.06.2011 49,500 Cash deposit 16.06.2011 3,25,000 Transferred to a/c no. 00000020067583042 16.06.2011 5,00,000 Transferred to a/c no. 20091451899 17.06.2011 17,75,000 Sale proceeds of immovable property

B. Account no. 00000020067583042 held with State Bank of India in the name of Mahesh K. Patel- Date Debit(Rs.) Credit(Rs.) Remarks, if any 23.04.20211 35,000 Cash deposit 17.05.2011 3,33,000 Purchase of immovable property 08.06.2011 25,000 Cash deposit 08.06.2011 25,000 Cash deposit 10.06.2011 49,500 Cash deposit 17.06.2011 3,25,000 By clearing 18.06.2011 4,00,000 Transferred to FD 21.06.2011 5,28,952 Purchase of immovable property 21.06.2011 2,260 Purchase of immovable property 16.07.2011 1,75,000 Transfer 06.08.2011 3,52,757 Proceeds from FD 06.08.2011 4,03,151 Proceeds from FD 06.08.2011 4,03,151 Proceeds from FD 08.08.2011 11,33,293 Purchase of immovable property 07.01.2012 25,000 Cash deposit

C. Account no. 20091451899 held with State Bank of India in the name of Dhanlaxmiben Mahesh Patel, spouse of the assessee – Date Debit(Rs.) Credit(Rs.) Remarks, if any 08.06.2011 25,000 Cash deposit 08.06.2011 25,000 Cash deposit 10.06.2011 49,500 Cash deposit 17.06.2011 5,00,000 Transferred from a/c no. 017801507835

ITA No. 1000/Srt/2024 Mahesh K Patel vs. ITO Asst. Year –2012-13 - 3–

18.06.2011 6,00,000 Transferred to FD 06.08.2011 6,04,726 Proceeds from FD 06.08.2011 5,03,938 Proceeds from FD 06.08.2011 5,03,938 Proceeds from FD 08.08.2011 16,00,000 Purchase of immovable property 6. On going through the table given pertaining to the deposit, we held the same have been duly explained by the assessee and no addition is called for. Hence, the appeal of the assessee is allowed.

7.

In the result, the appeal of the assessee is allowed. Order pronounced under proviso to Rule 34 of ITAT Rules, 1963 on 07/04/2026

Sd/- Sd/- (DR. BRR KUMAR) (SUCHITRA KAMBLE) VICE PRESIDENT JUDICIAL MEMBER Ahmedabad; Dated 07/04/2026 TANMAY, Sr. PS TRUE COPY आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��थ� / The Respondent. 3. संबंिधत आयकर आयु� / Concerned CIT 4. आयकर आयु�(अपील) / The CIT(A)- 5. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, सूरत / DR, ITAT, Surat 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER,

उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपीलीय अिधकरण, सूरत / ITAT, Surat

1.

Date of dictation 06.04.2026 2. Date on which the typed draft is placed before the Dictating Member 06.04.2026 3. Other Member………………… 4. Date on which the approved draft comes to the Sr.P.S./P.S .04.2026 5. Date on which the fair order is placed before the Dictating Member for pronouncement 07.04.2026 6. Date on which the fair order comes back to the Sr.P.S./P.S 07.04.2026 7. Date on which the file goes to the Bench Clerk 07.04.2026 8. Date on which the file goes to the Head Clerk…………………………………... 9. The date on which the file goes to the Assistant Registrar for signature on the order…………………….. 10. Date of Dispatch of the Order……………………………………

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