KISHORE GUPTA,ARERA COLONY vs. ACIT-1(2), HOSHANGABAD ROAD

ITA 1114/IND/2025Status: DisposedITAT Indore30 June 2026AY 2011-1227 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal deleted the addition on account of jewellery, citing CBDT circulars and customary practices regarding 'Stridhan'. The addition for a small amount of cash found at the residence was also deleted as meagre. However, the addition for cash found in the locker was sustained due to lack of plausible explanation.

What were the facts?

During a search and seizure operation, cash and jewellery were found at the assessee's residence and lockers. The Assessing Officer made additions for undisclosed investment in jewellery and unexplained cash.

What were the issues?

Whether the jewellery found during the search constitutes undisclosed investment and whether the cash found is unexplained.

Which sections of the Income-tax Act were involved?

Section 132,Section 153A,Section 143(3),Section 250,Section 253,Section 271AAA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: DR. ARJUN LAL SAINI & SHRI PARESH M. JOSHI

For Appellant: Shri Anil Khabya, AR
For Respondent: Shri Anup Singh CIT- DR
Hearing: 08.06.2026Pronounced: 30.06.2026

Per Paresh M. Joshi, JM:

This is an Appeal filed by the Assessee under section 253 of the income tax Act 1961,[ herein after referred to as the Act

for the sake of brevity] before this tribunal as & by way of a second Appeal. The Assessee is aggrieved by the order

bearingNumber:-ITBA/NFAC/S/250/2025-

26/1083014322(1) dated 26.11.2025 passed by the Ld.

Kishore Gupta CIT(A) u/s 250 of the Act [National Faceless Appeal Centre

(NFAC)], which is hereinafter referred as the “impugned

order”. The relevant assessment is 2011-12 and the corresponding previous year period is from 01.04.2010 to 31.03.2011. 2. Factual Matrix

2.

1 That as & by way of an assessment order made u/s 153A

r.w.s. 143(3) of the

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 132

All 14,598 judgments and leading authorities on Section 132 →

Recent GST High Court judgments

Search GST case law →