DEPUTY COMMISSIONER OF INCOME TAX , CHENNAI vs. SINGHVI DEVELOPERS , VELLORE

ITA 974/CHNY/2025Status: DisposedITAT Chennai24 February 2026AY 2019-20Bench: the Id. CIT(A). We find that the Id. CIT(A) reproduced the issue raised by the assessee and submissions made thereon in Page number 3 to 7 of impugned order. The Id. CIT(A), considering the same, discussed the issue in detail and by following his order for1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had voluntarily admitted additional income. The CIT(A) had directed the Assessing Officer to determine the correct peak cash credit for assessment years 2009-10 to 2019-20 and to add the remaining amount of admitted income. The Tribunal found no infirmity in this direction.

What were the facts?

Cross appeals were filed by the assessee and the Revenue against an order concerning assessment year 2019-20. The Revenue's appeal was filed with a delay of 34 days, which was condoned. The core issue involved the determination of peak cash credit related to immovable property transactions and unaccounted income.

What were the issues?

Whether the CIT(A) was justified in directing the Assessing Officer to adopt the correct peak credit in the facts and circumstances of the case for the assessment year 2019-20.

Which sections of the Income-tax Act were involved?

Section 132,Section 143(3)

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Before: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

Hearing: 13.01.2026Pronounced: 24.02.2026

Heard together (2 matters)

I.T.A. No.648/Chny/2025
I.T.A. No.974/Chny/2025

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PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER:

Both the cross appeals filed by the assessee as well as the Revenue are directed against the order dated 20.12.2024 passed by the ld. Commissioner o

The order continues below.

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