SHRI SAGAR SURESHBHAI PAREKH,RAJULA, DIST. AMRELI vs. THE ITO WARD 3 (1) (4), AMRELI, RAJKOT

ITA 854/RJT/2024Status: DisposedITAT Rajkot31 August 2026AY 2014-155 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The ITAT held that the addition under Section 68 was beyond the scope of limited scrutiny and deleted it. The addition under Section 56(2)(vii)(b) was restored to the Assessing Officer for fresh adjudication.

What were the facts?

The Assessing Officer made additions for unexplained unsecured loans under Section 68 and for the difference between property purchase consideration and stamp duty valuation under Section 56(2)(vii)(b). The CIT(A) upheld these additions. The assessee appealed to the ITAT.

What were the issues?

Whether additions made by the AO were beyond the scope of limited scrutiny. Whether the difference between property purchase consideration and stamp duty valuation warrants addition under Section 56(2)(vii)(b).

Which sections of the Income-tax Act were involved?

Section 68,Section 56(2)(vii)(b),Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Rajkot Bench, Rajkot

Before: Dr. Arjun Lal Saini & Shri Sonjoy Sarma

For Appellant: Shri Mahesh Ladumor, Ld. AR
For Respondent: Shri Ganesh Iyer, Ld. Sr. DR
Hearing: 27/08/2026Pronounced: 31/08/2026

Per, Shri Sonjoy Sarma, JM: Captioned appeal filed by the assessee, pertaining to Assessment Year (AY) 2014-15, is directed against the order under section 250 of the Income-tax Act, 1961 [hereinafter referred to as ‘the Act’] passed by the National Faceless Appeal Centre [hereinafter referred to as ‘NFAC’], dated 04.09.2024, which in turn arises out of an order passed by assessing officer u/s. 143(3) of the Act, dated 29.12.2016. 02. Brief facts of the case are th

The order continues below.

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