RAS CO OP GROUP HOUSING SOCIETY LTD,EAST DELHI vs. ITO, VIKAS BHAWAN

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ITA 168/DEL/2026Status: DisposedITAT Delhi10 February 2026AY 2012-13Bench: Sh. Satbeer Singh Godara (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal restricted the impugned addition only to the cash deposits made in the relevant previous year amounting to Rs. 14,12,056/-, as reduced by the explained amount. The remaining cash deposits were made in subsequent assessment years.

What were the facts?

The Assessing Officer recorded reasons to believe that the assessee's taxable income representing cash deposits of Rs. 56,48,224/- had escaped assessment. A portion of these deposits, Rs. 14,12,056/-, were made in the relevant previous year, out of which Rs. 13,86,056/- was treated as explained.

What were the issues?

Whether the addition for escaped assessment is justified on the cash deposits made by the assessee, considering the explained and unexplained portions.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI

Before: Sh. Satbeer Singh Godara

Hearing: 10.02.2026Pronounced: 10.02.2026

ORDER This assessee’s appeal for Assessment Year 2012-13 arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2025-26/1083399002(1) dated 08.12.2025, in proceedings u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short “the Act”).

2.

Heard both the parties at length. Case file perused.

3.

It is noticed at the outset during the course of hearing that the learned Assessing Officer in the assessee’s case had recorded his reasons to believe that the assessee’s taxable income representing it’s cash deposits of Rs.56,48,224/- liable to be assessed had escaped assessment on 27.03.2015. This cash deposited at the assessee’s behest in the relevant previous year admittedly comes to Rs.14,12,056/- out of which the learned assessing authority has himself treated it to have Ras Co-operative Group Housing Society Ltd. explained source to the tune of Rs.13,86,056/- as well at page 2 of the assessment order dated 28.11.2019. The remaining cash deposits admittedly came to be made at the assessee’s behest in the succeeding twin assessment years 2013-14 and 2014-15 going by it’s bank records.

4.

Faced with this situation, I hereby restrict the impugned addition only qua the cash deposits made in the relevant previous year amounting to Rs.14,12,056/-; as reduced by the explained amount of Rs.13,86,056/- than that of Rs.42,62,168/- made in both the lower proceedings. Necessary computation shall follow as per law.

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