KAMLESH PURANMAL AGRAWAL,SURAT vs. ITO, WARD-1(2)(1), SURAT

PDF · subscribers
ITA 40/SRT/2026Status: DisposedITAT Surat29 April 2026AY 2010-114 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision to restrict the addition to 12.7% of the cash credit, considering it as profit on unexplained investment. The assessee's argument for a lower profit estimation was not accepted.

What were the facts?

The assessee's assessment was reopened under Section 147/148 for AY 2010-11 due to undisclosed bank deposits. The Assessing Officer treated cash deposits of Rs. 32,67,523/- as unexplained income.

What were the issues?

The primary issues were the validity of reopening the assessment and the quantum of addition for unexplained investment based on bank deposits.

Which sections of the Income-tax Act were involved?

Section 147,Section 148

AI-generated summary — verify with the full judgment below

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

Before: MS. SUCHITRA KAMBLE

For Appellant: Shri Mehul Shah, CA
For Respondent: Shri Ashish Kumar, Sr. DR
Hearing: 05.03.2026Pronounced: 29.04.2026

आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��थ� / The Respondent. 3. संबंिधत आयकर आयु� / Concerned CIT 4. आयकर आयु�(अपील) / The CIT(A)- 5. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, सूरत / DR, ITAT, Surat 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER,

उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपीलीय अिधकरण, सूरत / ITAT, Surat

1.

Date of dictation 29.04.2026 2. Date on which the typed draft is placed before the Dictating Member 29.04.2026 3. Other Member………………… 4. Date on which the approved draft comes to the Sr.P.S./P.S .04.2026 5. Date on which the fair order is placed before the Dictating Member for pronouncement 29.04.2026 6. Date on which the fair order comes back to the Sr.P.S./P.S 29.04.2026 7. Date on which the file goes to the Bench Clerk 29.04.2026 8. Date on which the file goes to the Head Clerk…………………………………... 9. The date on which the file goes to the Assistant Registrar for signature on the order…………………….. 10. Date of Dispatch of the Order……………………………………

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →