SMT. JAYABEN MATHURDAS KANERIA,SURAT vs. THE THE INCOME TAX OFFICER, WARD -1(3), SURAT

ITA 1545/AHD/2015Status: DisposedITAT Surat16 August 2018AY 2010-1137 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the benefit of telescoping or peak credit could not be allowed for the cash deposits. The assessee failed to provide sufficient evidence to substantiate the source of the cash deposits, and the explanations offered were considered inconsistent.

What were the facts?

The assessee made significant cash deposits in a bank account that was not initially disclosed in their tax returns. The Assessing Officer (AO) treated these deposits as income from undisclosed sources, citing a lack of proper explanation and previous admissions of unaccounted income.

What were the issues?

Whether cash deposits in an undisclosed bank account can be treated as income from undisclosed sources, and whether the benefit of telescoping or peak credit is admissible in such cases.

Which sections of the Income-tax Act were involved?

Section 68

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Cases cited in this judgment(5)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Amit Kumar Kaneria & Others /I.T.A. No’s.2031, 2663, 1545, 2029 & 2030/Ahd/2015/SRT/A.Y:2010-11 & 11-12 आयकर अपीलीय अिधकरण,सुरत "यायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT "ी सी.एम.गग", "याियक सद"य तथा "ी ओ.पी.मीना, लेखा सद"य के सम" BEFORE SHRI C.M.GARG, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A No’s.2031 & 2663/AHD/2015/SRT िनधा"रण वष"/Assessment Years : 2010-11 & 2011-12 Ward-3(3), Surat.

Near: Rajhans Cinema, Piplod, Dumas Road, Surat – 395 007. [PAN: ADPPK 7315 J) अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No’s.1545 & 2029/AHD/2015/SRT िनधा"रण वष"/Assessment Years : 2010-11 & 2011-12 Ward-3(3), Surat.

Near: Rajhans Cinema, Piplod, Dumas Road, Surat – 395 007. [PAN: ADPPK 7316 M) अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2030/AHD/2015/SRT िनधा"रण वष"/Assessment Year : 2010-11 Ward-3(3), Surat.

Near: Rajhans Cinema, Piplod, Dumas Road, Surat – 395 007. [PAN: AIZPK 31

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