RAMZAN MULLA,VIJAYAPUR vs. INCOME TAX OFFICER, WARD-2, VIJAYAPURA

ITA 1103/BANG/2025Status: DisposedITAT Bangalore03 March 2026AY 2017-18Bench: SHRI PRASHANT MAHARISHI, VICE – (President), SHRI SOUNDARARAJAN K. (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the business receipts were supported by VAT returns and sales registers, and the deposits from relatives were substantiated by affidavits. Therefore, the additions were not justified.

What were the facts?

The assessee challenged an addition of Rs. 20,99,000/- as unexplained credit. The addition comprised Rs. 8,73,000/- treated as business deposits and Rs. 12,26,000/- received from relatives, during the demonetization period.

What were the issues?

Whether cash deposits during demonetization, including business receipts and amounts from relatives, can be treated as unexplained income under Section 69A when supported by evidence, especially when the assessee opted for presumptive taxation under Section 44AD.

Which sections of the Income-tax Act were involved?

Section 69A,Section 44AD

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Income Tax Appellate Tribunal, ‘SMC’ BENCH : BANGALORE

Before: SHRI PRASHANT MAHARISHI, VICE – & SHRI SOUNDARARAJAN K.

For Appellant: Ms. Jamuna, Advocate, Shri Ganesh R Ghale, Advocate

PER SOUNDARARAJAN K., JUDICIAL MEMBER

This is an appeal filed by the assessee challenging the order of the NFAC, Delhi dated 18/11/2024 in respect of the A.Y. 2017-18 and raised the following grounds: “GROUNDS OF APPEAL:

2.

1 Addition of Rs.20,99,000/- as Unexplained Credit: The learned Assessing Officer (AO) made an addition of Rs.20,99,000/- as unexplained credit under Section 69A of the Income Tax Act, 1961, without adequately considering the facts and evidence provided by the appellant.  Section 69A pertains to unexplained money, wherein if an assessee is found to be in possess

The order continues below.

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