MADANLAL LALCHAND JAIN,NANDURBAR vs. ACIT CENTRAL CIRCLE 2, NASHIK

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ITA 1403/PUN/2025Status: DisposedITAT Pune21 November 2025AY 2021-22Bench: SHRI R. K. PANDA (Vice President), MS. ASTHA CHANDRA (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that additions based on a cancelled/scratched loose paper have no evidentiary value and cannot be sustained without corroborative material. Additions related to other grounds were allowed based on prior decisions.

What were the facts?

During a search, incriminating documents were found, including loose papers detailing cash payments for land purchases and loans. The Assessing Officer made additions for unexplained investments, loans, and expenditures. The CIT(A) deleted some additions but confirmed others.

What were the issues?

Whether additions made on the basis of cancelled/scratched documents are valid, and the taxability of unexplained credits and capital gains.

Which sections of the Income-tax Act were involved?

Section 68,Section 69B,Section 69C,Section 69A,Section 115BBE

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & MS. ASTHA CHANDRA

For Respondent: Shri Amol Khairnar, CIT-DR

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to:

1. 1. अपील र्थी / The Appellant; प्रत्यर्थी / The Respondent 2.

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