SH. TARACHAND GUPTA,ALWAR vs. ACIT, CENTRAL CIRCLE, ALWAR, ALWAR

ITA 449/JPR/2024Status: DisposedITAT Jaipur10 March 2025AY 2017-18Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम Vs. ACIT, Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Ke1 pages
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What did the Tribunal hold?

The Tribunal dismissed the revenue's appeal regarding the deletion of additions related to unexplained investment in cash loans, finding no infirmity in the CIT(A)'s order. Similarly, the revenue's grounds concerning unaccounted cash deposits and disallowance of cash payments under Section 40A(3) were also dismissed.

What were the facts?

The Income Tax Appellate Tribunal (ITAT) heard appeals concerning assessment years 2015-16 to 2017-18, filed by both the assessee and the revenue. The appeals arose from orders passed by the Commissioner of Income Tax (Appeals) [CIT(A)] concerning additions made by the Assessing Officer (AO) during a search and seizure operation.

What were the issues?

Key issues involved the validity of additions made on account of undisclosed profits from seized P&L accounts, alleged unaccounted sales, unexplained investments, and cash payments, as well as the applicability of Section 115BBE.

Which sections of the Income-tax Act were involved?

Section 68,Section 69C,Section 40A(3),Section 115BBE,Section 132,Section 153A

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 447 to 449/JP/2024

Hearing: 08/01/2025Pronounced: 10/03/2025

PER: RATHOD KAMLESH JAYANTBHAI, AM The present bunch of four appeals consists of three appeals filed by the assessee and one by the revenue. These appeals were fi

The order continues below.

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