KARUTURI VEERA VENKATA RAVI PRASAD,KOVVUR MANDAL vs. ACIT., CENTRAL CIRCLE-2(2), HYDERABAD

ITA 796/HYD/2025Status: DisposedITAT Hyderabad29 October 2025AY 2017-18Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)15 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee could not reconcile the entries in the seized documents with the income declared in the returns for the HUF and his father's name. Therefore, the additions made by the AO and sustained by the CIT(A) were upheld.

What were the facts?

During a search operation, loose sheets and diaries detailing the assessee's finance business were seized. The Assessing Officer (AO) made additions for unexplained investment in fixed deposits and income from the finance business, totaling Rs. 36,65,800, as these amounts were not declared in the return.

What were the issues?

Whether additions made by the AO based on seized documents related to finance business are sustainable when the assessee claims the income was offered in the hands of HUF and father, and whether the seized documents are admissible as evidence.

Which sections of the Income-tax Act were involved?

Section 132,Section 153A

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(4)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.

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

PER MANJUNATHA G., A.M :

The captioned appeals are filed by a single assessee viz., ‘Karuturi Veera Venkata Ravi Prasad’ against the separate orders dated 10.03.2025, 10.03.2025 and 11.03.2025 of the learned Karuturi Veera Venkata Ravi Prasad.

Commissioner of Income Tax (Appeals) – 12, rela

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 132

All 14,598 judgments and leading authorities on Section 132 →

Recent GST High Court judgments

Search GST case law →