ACIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. KAVYA AVENUES LLP, VISAKHAPATNAM

ITA 714/VIZ/2025Status: DisposedITAT Visakhapatnam21 August 2026AY 2022-2315 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that an identical issue for a prior assessment year was decided in favour of the assessee, allowing the benefit of telescoping for unaccounted expenditure. Following the principle of consistency, the Tribunal dismissed the Revenue's appeal.

What were the facts?

The Revenue appealed against the CIT(A)'s order which restricted the addition of cash receipts from flat sales to the profit element, treating the rest as turnover. The assessee's cross-objection supported the CIT(A)'s order.

What were the issues?

Whether cash receipts from flat sales should be treated as unexplained money or unaccounted turnover, and whether the benefit of telescoping for unexplained expenditure is allowable.

Which sections of the Income-tax Act were involved?

Section 69A,Section 69C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM DB BENCH VISAKHAPATNAM

Before: SHRI VIJAY PAL RAO & SHRI MANJUNATHA G.

Hearing: 18.08.2026Pronounced: 21.08.2026

PER VIJAY PAL RAO, VICE PRESIDENT :

This appeal by the Revenue and Cross Objection by the Assessee are directed against the Order dated 25.09.2025 of the learned CIT(A), Visakhapatnam-3, Visakhapatnam, for the assessment year 2022-2023. 2. The Revenue has raised the following grounds of appeal:

1.

The order of the Ld. CIT(A) is erroneous both on facts and in law.

2.

The Ld. CIT(A) erred in not considering the fact that

The order continues below.

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