GHANSHYAMBHAI DEVRAJBHAI DOBARIYA,SURAT vs. ITO, WARD-3(2)(2), SURAT

This appeal has been filed by the Assessee against the order dated 18.06.2024 passed by the Ld. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (“the CIT(A) in short), under Section 250 of the Income-tax Act, 1961 (“the Act”), relating to the Assessment Year 2012-13.

In the present case, the Assessing Officer made an addition of Rs.26,23,459/- under section 68 of the Income-tax Act, 1961, treating the capital introduced by the assessee as unexplained income. Before us, the Ld. Counsel for the assessee submitted that the said amount had been duly disclosed and offered to tax and that the sources of capital introduction were properly explained. In support, the assessee furnished the following details:

Account Copy of Cash Book of Ghanshyambhai Devarajbhai Dobariya from the period of 01 April 2011 to 31 March 2012

Acknowledgment ROI and Computation of income for A.Y. 2008-09 To 2012-13 and relevant page

7x12 of Agriculture Land

On perusal of the above documents reflecting the amounts introduced into the capital account, we find that although these details were available on record, the same were not properly examined by the Assessing Officer. Upon verification of the material placed before us, we are satisfied that the source of capital introduction stands duly explained. Accordingly, no addition under section 68 of the Act is called for.

In the result, the appeal of the assessee is allowed. The order is pronounced in the open Court on 23.01.2026.