PRADEEP JAIN,JAIPUR vs. DCIT-CENTRAL CIRCLE-2, JAIPUR

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ITA 937/JPR/2025Status: DisposedITAT Jaipur08 October 2025AY 2017-18Bench: SHRIGAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)1 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the Assessing Officer failed to conduct a proper and detailed inquiry to establish that the assessee had advanced cash loans from personal income or charged interest. Consequently, the additions made under Section 68 were not sustainable.

What were the facts?

During a search operation, incriminating documents related to cash loans and advances were seized. The Assessing Officer treated these transactions as unexplained cash credits and levied additions, which were upheld by the CIT(A).

What were the issues?

Whether the additions made under Section 68 for unexplained cash credits and interest income were justified without a proper inquiry by the Assessing Officer.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”B-Bench” JAIPUR

Before: SHRIGAGAN GOYAL, AM& SHRI NARINDER KUMAR, JM

Hearing: 07/10/2025Pronounced: 08/10/2025

Result

25.

As a result, this appeal deserves to be allowed. Same is hereby allowed.

1.

File be consigned to the record room after the needful is done by the office. Order pronounced in the open court on 08/10/2025.

1.

Sd/- Sd/- ¼xxu xks;y½ ¼ujsUnz dqekj½ (GAGAN GOYAL) (NARINDER KUMAR) ys[kk lnL; @Accountant Member U;kf;d lnL;@Judicial Member Tk;iqj@Jaipur fnukad@Dated:- 08/10/2025 *Santosh Pradeep Jain, Jaipur आदेश की प्रतिलिपिअग्रेf’ात@ब्वचल वf जीम वतकमत वितूंतकमक जवरू The Appellant- Pradeep Jain, Jaipur. 1. 2. izR;FkhZ@ The Respondent- DCIT, Central Circle-2, Jaipur. 3. vk;djvk;qDr@ The ld CIT 4. विभागीय प्रतिनिधि] आयकरअपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत 5. xkMZQkbZy@ Guard File vkns'kkuqlkj@ By order,

सहायक पंजीकार@Aेेजज. त्महपेजतंत

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