INCOME TAX OFFICER, ITARSI vs. SHYAM SUNDER BHARGAVA, PIPARIYA

ITA 858/IND/2024Status: DisposedITAT Indore21 May 2026AY 2015-1618 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the sole ground of the revenue's appeal was resolved by the rectification order of the CIT(A), which explained the difference between bank credits and turnover as unsecured loans and advances.

What were the facts?

The Assessing Officer made an addition of approximately Rs. 636.76 crores to the assessee's income. The CIT(A) initially dismissed the assessee's appeal but later passed a rectification order.

What were the issues?

Whether the difference between bank credits/debits and turnover remained unexplained, and if the CIT(A)'s rectification order resolved the revenue's grievance.

Which sections of the Income-tax Act were involved?

Section 144,Section 144B,Section 250,Section 253,Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

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

For Appellant: Shri Arpit Gaur, CA
For Respondent: Shri Ashish Porwal, Sr. DR
Hearing: 12.05.2026Pronounced: 21.05.2026

Per Paresh M Joshi, J.M.:

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

for the sake of brevity] before this tribunal as and by way of an appeal. The revenue is aggrieved by the order bearing No:-

ITBA/NFAC/S/250/2024-25/106958934(1) dated

10.10.

2024 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 2015-16 and the SHYAM SUNDER BHARGAVA ITA No. 858/Ind/2024 - A.Y.2015-16

corresponding previous year period is from 01.04.2014 to 31.03.2015. 2. Factual Matrix

2.

1 That as and by way of an assessment order made u/s 147 rws 144/144B of the act, the to

The order continues below.

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