HIMANSHU HARISHCHANDRA KAPADIA,SURAT vs. ACIT, CIRCLE-1(2), SURAT

ITA 354/SRT/2026Status: DisposedITAT Surat31 August 2026AY 2017-1835 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee failed to discharge the burden of proof regarding the genuineness of the cash balance carried forward from previous years. The belated filing of returns and the timing of cash disclosures were considered indicative of a malafide intention.

What were the facts?

The assessee deposited Rs. 21,60,000/- in old currency notes during the demonetization period. The assessee claimed this was from opening cash balance, but the Assessing Officer found discrepancies in the cash declared in earlier years' returns.

What were the issues?

Whether the cash deposit during demonetization was unexplained, and if so, whether Section 115BBE was rightly invoked. Whether the assessee had adequately demonstrated the genuineness of the cash balance from preceding years.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: SHRI B.M. BIYANI & SHRI PARESH M JOSHI

Hearing: 21.07.2026

Per Paresh M Joshi, J.M.: 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 and by way of a second appeal. The Assessee is aggrieved by the order bearing No:- ITBA/APL/S/250/2025-26/1085455169(1) dated 02.02.2026 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 2017-18 and the HIMANSHU HARISHCHANDRA KAPADIA ITA No. 354/SRT/2026 - A.Y.2017-18

corresponding previous year period is from 01.04.2016 to 31.03.2017. 2. Factual Matrix

2.

1 That as

The order continues below.

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