AMIT SHANTARAM BAGADE MITED ,MUMBAI vs. INCOME TAX OFFICER INT TAXATION WARD 1(2), MUMBAI

ITA 832/MUM/2025Status: DisposedITAT Mumbai04 March 2026AY 2019-20Bench: JUSTICE (RETD.) SHRI C.V. BHADANG (President), SHRI VIKRAM SINGH YADAV (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the adverse inferences drawn by the lower authorities regarding 'on money' payments were based on premature observations and lacked clinching evidence. The Tribunal found no corroborative evidence to conclusively prove cash payments.

What were the facts?

The assessee's income was reassessed based on information from a search operation suggesting cash payments for property purchases. The Assessing Officer (AO) made additions under Section 69 for unexplained investments, citing an excel sheet and third-party statements.

What were the issues?

Whether the reassessment proceedings were valid and whether additions under Section 69 for unexplained investments based on alleged cash payments were substantiated without proper corroboration and cross-examination.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 148A,Section 144C,Section 69,Section 151A

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, MUMBAI “I” BENCH : MUMBAI

Before: JUSTICE (RETD.) SHRI C.V. BHADANG & SHRI VIKRAM SINGH YADAV

PER VIKRAM SINGH YADAV, A.M : These are two appeals filed by the assessee against the respective final assessment orders dated 12-12-2024 & 20-08-2025 passed u/s. 147 r.w.s. 144C(13) of the Income Tax Act, 1961 („the Act‟), pursuant to the directions issued by the Learned CIT (DRP-1), Mumbai-1, ("Ld.DRP"), pertaining to Assessment Years (AYs.) 2019-20 & 2020-21. 2. Since common issues are involved, both these appeals were heard together and are being disposed-off by this consolidated order.

3.

With the consent of both the parties, the appeal in ITA No. 832/Mum/2025 (AY. 2019-20) was taken as t

The order continues below.

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