INCOME TAX OFFICER WARD 1 , LATUR vs. VIMAL JAYDEV ARYA, LATUR

ITA 2156/PUN/2024Status: DisposedITAT Pune16 February 2026Bench: SHRI R. K. PANDA (Vice President), Ms. ASTHA CHANDRA (Judicial Member)26 pages
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What did the Tribunal hold?

The Tribunal held that a profit rate of 2% on the deposits would be a reasonable estimation of commission income, setting aside the CIT(A)'s order. The assessee's cross-objection was dismissed as not pressed.

What were the facts?

The assessee had substantial cash deposits in a cooperative society account. The Assessing Officer treated these deposits as unexplained income. The CIT(A) restricted the addition to Rs. 2,50,000/- as commission income.

What were the issues?

Whether the entire cash deposits are unexplained income, or if a portion can be considered as commission income, and if so, at what rate.

Which sections of the Income-tax Act were involved?

Section 69A,Section 147,Section 148,Section 144

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & Ms. ASTHA CHANDRA

For Appellant: Shri Kishor B Phadke
For Respondent: Shri Ajay D. Kulkarni, Addl.CIT

PER BENCH:

This appeal filed by the Revenue is directed against the order dated 19.08.2024 of the Ld. CIT(A) / NFAC, Delhi relating to assessment year 2015-16. The assessee has filed the CO against the appeal filed by the Revenue. For the 2 CO No.15/PUN/2025

sake of convenience, these were heard together and are being disposed of by this common order.

2.

Facts of the case, in brief, are that the assessee is an individual and filed her return of income on 29.10.2015 declaring total income of Rs.6,82,890/-. A search and sei

The order continues below.

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