ABHISHEK ANAND,VIP MORE COURT ROAD, DEOGHAR vs. ITO WARD 3(1), DEOGHAR, DEOGHAR

ITA 103/RAN/2026Status: DisposedITAT Ranchi31 August 2026AY 2017-184 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal, in the interest of justice, decided to restore the issue to the Assessing Officer. The AO is directed to consider all documents produced by the assessee and examine the issue afresh after providing a reasonable opportunity of being heard.

What were the facts?

The assessee made substantial cash deposits in bank accounts during the demonetization period. The Assessing Officer treated these deposits as unexplained investment under Section 69 and taxed them under Section 115BBE, as the assessee failed to file a return or explain the source of funds.

What were the issues?

Whether the cash deposits made during demonetization are unexplained investments and if the assessee was provided a sufficient opportunity to explain the source of these deposits.

Which sections of the Income-tax Act were involved?

Section 69,Section 115BBE,Section 142(1),Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI

Before: SHRI RATNESH NANDAN SAHAY & SMT. RAJANI GUDURI

For Appellant: Shri P.P. Singh, C.A
For Respondent: Shri Ram Chandra Marndi, Sr.DR
Hearing: 25/08/2026Pronounced: 31/08/2026

PER: BENCH

1.

This appeal by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), Delhi [in short, the ld. CIT(A)] dated 23/12/2025 for the Assessment Year (AY) 2017-18 wherein the assessee has raised following grounds of appeal:

"

1.

The Commissioner of Income Tax (Appeal) (herein after referred as CIT(A)) erred in law and facts while confirming the order of Id. AO (ITO Ward 3(1) Deoghar) the assessing taxable income of Rs. 48,85,030/- under section 69 as unexplained investment and taxing under section 115BBE of income tax act 1961 and dismissing the appeal, the aggrieved appellant assessee seek relief b

The order continues below.

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