KANCHAN LALWANI,VIZIANAGARAM vs. INCOME TAX OFFICER, WARD-1, VIZIANAGARAM

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ITA 484/VIZ/2025Status: DisposedITAT Visakhapatnam31 October 2025AY 2021-22Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)19 pages
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What did the Tribunal hold?

The Tribunal held that the addition under Section 56(2)(x)(B) was made without affording proper opportunity to the assessee and contrary to the show cause notice, violating the principles of natural justice. It also found that the assessee provided a valuer's report supporting a lower property value, which the AO should have considered.

What were the facts?

The assessee's case was selected for scrutiny due to large cash deposits and property transactions. The Assessing Officer made additions for unexplained cash credits and the difference between sale consideration and property value. The CIT(A) sustained these additions.

What were the issues?

Whether additions made under Section 56(2)(x)(B) were valid without proper opportunity and consideration of assessee's evidence, and whether Section 68 was correctly invoked for cash deposits.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144B,Section 68,Section 115BBE,Section 56(2)(x)(b)(B),Section 56(2)(vii)(b)(ii)

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Income Tax Appellate Tribunal, Visakhapatnam Bench

आदेशकी प्रनतनलनप अग्रेनर्त/ Copy of the order forwarded to:-

1. 1. निर्धाररती/The Assessee : Kanchan Lalwani, 22-1-22, PHHO Baugh Road, Ambati Satram Junction, Khadarnagar, Vizianagaram – 535002. 2. रधजस्व/ The Revenue : The Income Tax Officer, Ward-1, Vizianagaram.

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