ASWAD JAIDAS PATIL,RAIGAD vs. DY, COMMISSIONER OF INCOME TAX, CIRCLE-PANVEL, PANVEL

ITA 344/PUN/2024Status: DisposedITAT Pune31 July 2025AY 2012-13Bench: SHRI R. K. PANDA (Vice President), MS. ASTHA CHANDRA (Judicial Member)20 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s deletion of the addition under Section 69A, finding no infirmity in the order based on the AO's own remand report. The issue of unsecured loans was restored to the AO for fresh adjudication, and the disallowance of expenses was upheld.

What were the facts?

The Assessing Officer made several additions to the assessee's income, including unexplained cash credit, provision for routine expenses, unsecured loans, and unverifiable expenses. The CIT(A) deleted the addition under Section 69A, restricted additions for routine expenses and unsecured loans, and restricted disallowance of expenses.

What were the issues?

Whether the CIT(A) erred in deleting the addition under Section 69A and whether the assessee proved the creditworthiness of unsecured loan lenders.

Which sections of the Income-tax Act were involved?

Section 69A,Section 68,Section 144,Section 143(2),Section 142(1),Section 250(4)

AI-generated summary — verify with the full judgment below

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

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

For Appellant: Shri Prakash G Jhunjhunwala
For Respondent: Shri Ramnath P Murkunde

PER BENCH:

These are cross appeals – the first one is filed by the assessee and the second one filed by the Revenue and are directed against the order dated 28.12.2023 of the Ld. CIT(A) / NFAC, Delhi relating to assessment year 2012-13. For the sake of convenience, these were heard together and are being disposed of by this common order.

2.

These appeals were earlier dismissed by the Tribunal for want of prosecution. Subsequently the Tribunal vide M.A. Nos.59 & 60/PUN/2024 order dated 09.04.2025 recalled the earli

The order continues below.

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