RAVI BANSILAL DARIRA,MUMBAI vs. CIRCLE 15(3)(1), MUMBAI, MUMBAI

ITA 5900/MUM/2025Status: DisposedITAT Mumbai28 January 2026AY 2023-24Bench: SHRI VIKRAM SINGH YADAV (Accountant Member), MS. KAVITHA RAJAGOPAL (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the business was transferred and the company filed its return. The assessee claimed the addition led to double taxation. The Tribunal found that a detailed verification was necessary to examine the claim that transactions were reported in the company's Form-26AS.

What were the facts?

The assessee, a proprietor, transferred his business to a company. The AO made an addition of Rs. 4,61,83,532/- as undisclosed business income. The CIT(A) dismissed the assessee's appeal.

What were the issues?

Whether the addition made by the AO as undisclosed business income is sustainable when the business has been transferred to a company and income offered to tax by the company, leading to potential double taxation.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144B

AI-generated summary — verify with the full judgment below

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

Before: SHRI VIKRAM SINGH YADAV & MS. KAVITHA RAJAGOPAL

PER VIKRAM SINGH YADAV, A.M :

This is an appeal filed by the assessee against the order of the Learned Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre (NFAC), Delhi [„Ld.CIT(A)‟], dated 28-08-2025, pertaining to Assessment Year (AY) 2023-24. 2. Briefly, the facts of the case are that the assessment in this case was completed u/s. 143(3) r.w.s. 144B of the Income Tax Act, 1961 („the Act‟), vide order passed by the NFAC, Delhi dt. 24-02-2025, wherein the AO has made an addition of Rs. 4,61,83,532/- as undisclosed business income in 2 the hands of the assessee. The assessee thereafter carried the matter in appeal before t

The order continues below.

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