V GAYATHRI,KRISHNAGIRI vs. ITO, WARD-1,, KRISHNAGIRI

ITA 1871/CHNY/2025Status: DisposedITAT Chennai04 February 2026AY 2017-18Bench: SHRI GEORGE GEORGE K (Vice President), SHRI S.R. RAGHUNATHA (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal. While acknowledging the assessee's claim of income sources, they noted the lack of complete substantiation. The Tribunal decided to delete 50% of the addition and sustain the remaining 50%, directing the Assessing Officer to recalculate the tax at 30% on the sustained addition, as the deposits were made before April 1, 2017.

What were the facts?

The assessee filed an appeal against an order dismissing their appeal, which was against an assessment order. There was a delay of 516 days in filing the appeal. The assessee had made cash deposits totaling Rs. 16,09,500 during the demonetization period, which the Assessing Officer treated as unexplained investment. The assessee claimed the source as salary, agricultural, and rental income.

What were the issues?

Whether the cash deposits made during the demonetization period were sufficiently explained, and the applicability of the tax rate under Section 115BBE for transactions prior to April 1, 2017.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 142(1),Section 69,Section 115BBE

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: SHRI GEORGE GEORGE K & SHRI S.R. RAGHUNATHA

For Respondent: Ms. Gouthami Manivasagam, J.C.I.T
Hearing: 20.11.2025Pronounced: 04.02.2026

PER S. R. RAGHUNATHA, AM: The present appeal is filed by the assessee against the order dated 24.11.2023 passed by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (hereinafter referred to as “ld.CIT(A)”), dismissing the appeal filed by the assessee against the assessment order dated 05.12.2019 passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as the “Act”), pertaining to Assessment Year (A.Y

The order continues below.

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