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Facts
The assessee's appeal concerned an addition of Rs. 1,93,43,100/- made on account of capital introduced by a partner firm. The assessee argued that bank statements evidencing the source of capital, though filed, were not duly considered by the revenue authorities.
Held
The Tribunal found that the bank statements clearly reflected the sources of capital introduced. Therefore, the matter was restored to the Assessing Officer for verification of these deposits and to pass an order after due consideration.
Key Issues
Whether the Revenue authorities duly considered the bank statements evidencing the source of partner's capital introduction.
Sections Cited
250
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, SURAT BENCH, SURAT
(Assessment Year: 2018-19) Suryam Developers, NAFC, Vs. Block No.110/B/1 Palnpor, Current Jurisdiction, Bhesan Taluka, ITO, Choryasi Ward 2(3)(4), Surat-395009. Surat. [PAN : ADMFS1272R] (Appellant) .. (Respondent) Appellant by : Shri Rasesh Shah, AR Respondent by: Shri Mukesh Jain, Sr. DR Date of Hearing 21.01.2026 Date of Pronouncement 23.01.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:-
This appeal has been filed by the Assessee against the order dated 23.12.2024 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 2018-19.
2. The Ld. CIT(A) confirmed the addition of Rs.1,93,43,100/- on account of amount introduced by the partner firm as partner capital. Before us, the Ld. Counsel submitted the bank statement evidencing the source of capital introduced by the partner and contended that although these details were filed before the Revenue authorities, the same were not duly considered. We have carefully examined the details furnished by the assessee and perused the bank statement placed on record. We find that the sources of capital are duly reflected therein. Accordingly, the matter is restored to the file of the Jurisdictional Assessing Officer for the limited purpose of verification of the deposits reflected
In the result, the appeal of the assessee is allowed for statistical purposes.
The order is pronounced in the open Court on 23.01.2026.
Sd/- Sd/- (SUCHITRA KAMBLE) (DR. B.R.R. KUMAR) JUDICIAL MEMBER VICE-PRESIDENT (True Copy) Surat; Dated 23.01.2026 **mv आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : अपीलाथ� / The Appellant 1. ��थ� / The Respondent. 2. संबंिधत आयकर आयु� / Concerned CIT 3. 4. आयकर आयु� ( ) अपील / The CIT(A)- 5. िवभागीय �ितिनिध , , अिधकरण अपीलीय आयकर /DR,ITAT, Surat, गाड� फाईल / Guard file. 6. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Surat
Date of dictation …words processed by Hon’ble VP on his PC on 17.10.2025…………….
Date on which the typed draft is