SURYADEVARA RADHAKRISHNA,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

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ITA 583/HYD/2025Status: DisposedITAT Hyderabad31 October 2025AY 2020-21Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)24 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the addition of Rs. 9 crores for alleged on-money payment was not sustainable due to lack of evidence. However, the addition of Rs. 20,85,000 as unexplained cash was upheld.

What were the facts?

The assessee purchased a property for Rs. 4.60 crores, but an agreement for Rs. 13.60 crores was found during a search. Additionally, Rs. 20,85,000 in cash was found at the assessee's residence and office.

What were the issues?

Whether the addition for alleged on-money payment for property purchase is justified, and whether the cash found during search is unexplained.

Which sections of the Income-tax Act were involved?

Section 69,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘ A ‘ Bench, Hyderabad

For Appellant: Ms. U. Mini Chandran

आदेशकी प्रनतनलनप अग्रेनर्त/ Copy of the order forwarded to:-

1. 1. निर्धाररती/The Assessee : Sri Suryadevara Radhakrishna, 8-2-268/27, Navodaya Colony, Road No.2, Banjara Hills, Hyderabad, Telangana – 500034. 2. रधजस्व/ The Revenue : The Assistant Commissioner of Income Tax, Central Circle 1(2), Hyderabad.

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