ITO, WARD-30(5), DELHI vs. RAGHAV GOEL, DELHI

ITA 734/DEL/2025Status: DisposedITAT Delhi03 February 2026AY 2017-18Bench: SHRI S RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that treating cash deposits as unexplained on the basis of books of account without legally rejecting them is not permissible. The impugned orders of the AO and CIT(A) were set aside as unsustainable.

What were the facts?

The assessee filed a return of income for AY 2017-18. A survey was conducted, and information regarding cash deposits during the demonetization period was obtained. The Assessing Officer (AO) made an addition of Rs. 2,81,46,500/- as undisclosed income, which was later restricted by the CIT(A) to 2% of this amount.

What were the issues?

Whether the CIT(A) erred in restricting the addition made by the AO and whether the cash deposits were sufficiently explained by the assessee's books of account and VAT returns.

Which sections of the Income-tax Act were involved?

Section 69A,Section 133A,Section 143(3),Section 250

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Income Tax Appellate Tribunal, “C” BENCH, DELHI

Before: SHRI S RIFAUR RAHMAN & SHRI VIMAL KUMAR

For Appellant: CA Sh. Harish K. Choudhary, CA, Ms. Neetu Jain, CA, Ms. Mitika Choudhary, Ms. Neha Gupta, Adv
Hearing: 06.11.2025Pronounced: 03.02.2026

Heard together (2 matters)

ITA No.734/Del/2025
CO 85/Del/2025

Read from the judgment's own cause title. This page is filed under one of them.

PER VIMAL KUMAR, JM:

The appeal filed by the department of revenue and Cross Objection

filed by the assessee are against the order dated 10.01

The order continues below.

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