RAJU LAL JAIN,DURG vs. INCOME TAX OFFICER-1(3) BHILAI, BHILAI

ITA 152/RPR/2026Status: DisposedITAT Raipur25 June 2026AY 2017-188 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had adequately explained the nature and source of the cash deposits by providing month-wise cash flow statements, details of sales, and a list of debtors. The Tribunal found that the Revenue authorities had not conducted independent inquiries to verify the assessee's submissions and had summarily dismissed the evidence provided.

What were the facts?

The assessee, a readymade garment trader, made cash deposits in his bank account during the demonetization period. The Assessing Officer (AO) added a portion of these deposits as unexplained money under Section 69A, citing the nature of the deposits as SBN notes. The Commissioner of Income Tax (Appeals) provided partial relief, but sustained a significant portion of the addition.

What were the issues?

Whether cash deposits made during the demonetization period can be treated as unexplained money under Section 69A when the assessee has provided explanations and supporting documents, and the revenue has not conducted independent verification.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH “SMC”, RAIPUR

Before: SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Rakesh Dhody, CA
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 25.06.2026Pronounced: 25.06.2026

PER PARTHA SARATHI CHAUDHURY, JM:

These captioned appeals preferred by the same assessee emanates from the separate orders of the Ld.CIT(Appeals)/NFAC, dated 12.02.2026 &11.12.2025 for the assessment years 2016-17 & 2017-18 as per the grounds of appeal on record. A.Y. 2017-18

2.

The contention made by the Ld. Counsel for the assessee is that the assessee is in the business of trading in readymade garments. The assessee has a shop at Berla, Chhattisgarh and he does ret

The order continues below.

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