PRAKASHKUMAR NAVINCHANDRA TAMAKUWALA,SURAT vs. ITO, WARD 1(2)(1), SURAT

ITA 358/SRT/2025Status: DisposedITAT Surat31 August 2026AY 2016-1725 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the assessee was largely non-compliant before the Assessing Officer and the CIT(A). However, acknowledging the complexity and the assessee's belated attempts to investigate, the Tribunal set aside the impugned order.

What were the facts?

The assessee is aggrieved by an order assessing his income at Rs. 2,05,87,168/- based on large cash deposits in a bank account linked to an old, lost PAN card. The assessee claimed the transactions were fraudulent and not his own, as he used a different PAN for his actual business.

What were the issues?

Whether the large cash deposits linked to a lost PAN card were attributable to the assessee, and if the assessment order was passed correctly given the assessee's claims of fraud and non-compliance.

Which sections of the Income-tax Act were involved?

Section 147,Section 144B,Section 148,Section 139,Section 148A,Section 142(1),Section 133(6),Section 253,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

For Respondent: Shri Om Prakash Jha, Sr.DR
Hearing: 21.07.2026Pronounced: 31.08.2026

Per Paresh M Joshi, J.M: This is an appeal filed by the Assessee under section 253 of the income tax Act 1961,[ hereinafter 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 bearing No:-ITBA/NFAC/S/250/2024-25/1073812009(1) dated 28.02.2025 passed by the Ld. CIT(A) u/s 250 of the Act, which is hereinafter referred to as the “Impugned order”. The Relevant Assessment year is 2016-17 and the PRAKASHKUMAR NAVINCHANDRA TAMAKUWALA ITA No. 358/SRT/2025 - A.Y. 2016-17

corresponding previous year period is from 01.04.2015 to 31.03.2016. 2. Factual Matrix

2.

1 That as and by way of an Assessment

The order continues below.

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