GANESH KUMAR PAIDI,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-2(4), VIJAYAWADA

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ITA 135/VIZ/2025Status: DisposedITAT Visakhapatnam26 August 2025AY 2017-1817 pages
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What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal due to the assessee's accident. It directed the Assessing Officer to apply the pre-amended tax rate of 30% on the addition made under Section 69A, following a favorable High Court decision.

What were the facts?

The assessee deposited a significant amount of cash in his bank account, exceeding his declared business turnover. The Assessing Officer treated the excess deposits as unexplained income under Section 69A. The assessee appealed against this addition.

What were the issues?

The applicability of the enhanced tax rate under Section 115BBE for the assessment year in question and the treatment of unexplained cash deposits.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 143(3),Section 250

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, Visakhapatnam Bench

For Appellant: Dr. Aparna Villluri, Sr.DR

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

1. 1. निर्धाररती/The Assessee : Ganesh Kumar Paidi, D.No.67-11-13, Marrichettu, Darsipeta, Patamata, Vijayawada – 520010, Andhra Pradesh. 2. रधजस्व/ The Revenue : The Income Tax Officer, Ward – 2(4), Vijayawada.

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