REVA ENTERPRISE,ANKLESHWAR vs. INCOME TAX OFFICER, WARD 2(4), BHARUCH, BHARUCH

ITA 259/SRT/2024Status: DisposedITAT Surat17 November 2025AY 2017-18Bench: MS. SUCHITRA RAGHUNATH KAMBLE (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the addition of Rs. 82,92,950/- under section 69A was correct. However, the penalty under section 271AAC(1) needed to be recomputed due to relief granted on the tax rate. The penalty under section 271F was upheld.

What were the facts?

The assessee failed to file its return of income for AY 2017-18. Information regarding cash deposits during demonetization and other credits in the bank account led to an addition of Rs. 82,92,950/- as unexplained income. The assessee also faced penalties under sections 271AAC(1) and 271F.

What were the issues?

Whether the addition for unexplained income was justified and the correctness of the penalties levied under sections 271AAC(1) and 271F.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 271AAC(1),Section 271F

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Before: MS. SUCHITRA RAGHUNATH KAMBLE & SHRI BIJAYANANDA PRUSETH

Hearing: 18/08/2025Pronounced: 17/11/2025

PER BIJAYANANDA PRUSETH, AM: These appeals by the assessee emanate from the separate orders passed under section 250 of the Income-tax Act, 1961 (in short, 'the Act’) by the Commissioner of Income-tax (Appeals), NAFAC, Delhi [in short, ‘the CIT(A)’] for the assessment year (AY) 2017-18. With the consent of both the parties, all appeals were clubbed, heard together and are decided by a common order for brevity and convenience.

ITA Nos.259, 380 & 414/SRT/2024/AY 2017-18

The order continues below.

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