AMAN MANTRI,INDORE vs. I TO , INDORE

ITA 907/IND/2025Status: DisposedITAT Indore24 September 2026AY 2017-186 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the AO erred by ignoring the current year's income earned as cash commission and solely relying on a mathematical difference. The assessee had provided explanations for the cash flow and brokerage receipts, demonstrating the availability of cash.

What were the facts?

The assessee declared an income of Rs. 5,00,000/-. The Assessing Officer (AO) made an addition of Rs. 3,38,740/- under section 115BBE, considering the difference between cash deposits during demonetization and the opening cash balance, without considering current year income. The CIT(A) dismissed the assessee's appeal.

What were the issues?

Whether the addition made by the AO on account of cash deposits during demonetization, without considering the assessee's current year income and cash flow explanation, was justified.

Which sections of the Income-tax Act were involved?

Section 115BBE,Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI PARESH M. JOSHI & SHRI ARVIND SONI

For Respondent: Shri Binay Kumar Rai, Sr, DR
Hearing: 03.09.2026Pronounced: 24.09.2026

PER ARVIND SONI, ACCOUNTANT MEMBER:

This appeal has been filed by the assessee against the order dated 10.09.2025 passed by the National Faceless

Appeal Centre (NFAC), Delhi [hereinafter referred to as "the ld. CIT(A)"] for Assessment Year 2017-18 arising out of assessment order framed under section 147 read with section 143(3) of the Income-tax Act, 1961 ("the Act").

Aman Mantri

2.

The brief facts of the case are that the assessee filed the return of income for Assessment Year 2017-18 on 05.08.2017 declaring total income of Rs.5,00,000/-.

Subsequently the case was selected for limited scrutiny

under CASS on the grounds cash deposit during the demonetization period. Notices u/s 143(2) and 142(1) of the Act w

The order continues below.

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