VIREN VALLABHDAS DHAKAN,RAJKOT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -2(1), RAJKOT, RAJKOT

ITA 34/RJT/2025Status: DisposedITAT Rajkot11 March 2026AY 2017-18Bench: DR. ARJUN LAL SAINI (Accountant Member), DR. DINESH MOHAN SINHA (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the assessee failed to discharge the onus to prove the credit-worthiness and genuineness of unsecured loans amounting to Rs. 20,00,000/-. However, considering the assessee's claim of having provided details and the potential for further evidence, the matter was remitted back to the Assessing Officer.

What were the facts?

The assessee's appeal was filed late by 363 days. The assessee claimed ignorance of the CIT(A)'s order due to non-delivery, only becoming aware upon receiving a penalty notice. The Tribunal condoned the delay, finding sufficient cause.

What were the issues?

Whether the unsecured loans were genuine and whether the assessee had provided sufficient evidence to establish the credit-worthiness of the creditors.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 271AAC,Section 234A,Section 234B,Section 234C

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, RAJKOT BENCH, RAJKOT

Before: DR. ARJUN LAL SAINI & DR. DINESH MOHAN SINHA

For Appellant: Shri D. M. Rindani, Ld. A.R
For Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Hearing: 15/12/2025Pronounced: 11/03/2026

Per Dr. Dinesh Mohan Sinha, JM: Captioned appeal filed by the assessee, pertaining to Assessment Year (AY)-2017-18, is directed against the order passed by the Commissioner of Income Tax [(in short “Ld.CIT(A)”] vide order dated 22.11.2023, which in turn assessment order passed by Income Tax Department/Assessing Officer under section 143(3) of the Income Tax Act, 1961 (in short “the Act”), vide order dated 29.12.2019. 2. Grounds of appeal raised by the assessee are as follows:

“1. The Learned Commissioner Of Income Ta

The order continues below.

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