ARUN KUMAR BHAUMIK,KOLKATA vs. A.C.I.T., CIRCLE - 50(1), KOLKATA

ITA 1884/KOL/2026Status: DisposedITAT Kolkata25 September 2026AY 2017-20186 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that Section 69A is not applicable as the money was recorded in the assessee's books and was part of a legitimate transaction of depositing and remitting funds for stamp paper issuance. The addition made by the AO and sustained by the CIT(A) was incorrect.

What were the facts?

The assessee, an authorized stamp vendor, deposited cash collected from customers into his bank account and then remitted it to the government treasury. The Assessing Officer treated these deposits totaling ₹96,77,000/- as unexplained money under Section 69A.

What were the issues?

Whether cash deposits made by an authorized stamp vendor, which are subsequently remitted to the government treasury, can be treated as unexplained money under Section 69A of the Income-tax Act.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(1),Section 143(2),Section 142(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, KOLKATA

For Appellant: Shri Soumitra Choudhury &
For Respondent: Shri Amuldeep Kaur, DR
Hearing: 08.09.2026Pronounced: 25.09.2026

Per Rajesh Kumar, AM:

This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 13.03.2026 for the AY 2017-18. 2. The only issue raised by the assessee is against the order of Ld. CIT (A) confirming the addition of ₹96,77,000/- as made by the Ld. AO u/s 69A of the Act as unexplained money.

3.

The facts in brief are that the assessee filed the return of income on 29.05.2017, declaring total income of ₹28,05,810/- . The case of the assessee was processed u/s 143(1) of the Act. Thereafter, the case was taken up for scrutiny proceedings and notice u/s 143(2) and 142(1) of the Act were

The order continues below.

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