ASHOK VISHNU WAGH,NASHIK vs. ITO, WARD1(4),, NASHIK

ITA 840/PUN/2024Status: DisposedITAT Pune31 July 2024AY 2011-12Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI INTURI RAMA RAO (Accountant Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the CIT(A)/NFAC for fresh adjudication. The assessee was given three effective opportunities to file and prove all relevant facts.

What were the facts?

The assessee's appeal concerns an addition of Rs. 59,92,500/- as unexplained money for AY 2011-12. The assessment was made ex-parte, and additional evidence filed before the lower appellate authority was declined.

What were the issues?

Whether the assessee's additional evidence, explaining the source of unexplained money, should have been considered by the lower appellate authority.

Which sections of the Income-tax Act were involved?

Section 69A,Section 144,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, PUNE

Before: SHRI SATBEER SINGH GODARA & SHRI INTURI RAMA RAO

For Appellant: Mr. Naimish Dixit
For Respondent: Shri Ramnath P. Murkunde

PER SATBEER SINGH GODARA, JM : This assessee’s appeal for assessment year 2011-12, arises against the National Faceless Appeal Centre [in short the “NFAC”] Delhi’s DIN & Order No. ITBA/NFAC/S/250/2023-24/1061237046(1), dated 21.02.2024, involving proceedings u/s. 250 of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case filed perused.

2.

It emerges at the outset that the assessee’s sole substantive grievance raised in the instant appeal seeks to reverse both the lower authorities action making section 69A unexplained money addition of Rs.59,92,500/- in the course of section 144 assessment dated 0

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 69A

All 15,297 judgments and leading authorities on Section 69A →

Recent GST High Court judgments

Search GST case law →