Which sections of the Income Tax Act does Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 115BBE, Section 142(1), Section 132, Section 250.

Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. (441 ITR 550)

Q: What is Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. authority for?

When an assessee maintains proper books of accounts without defects, cash deposits made into a bank account from the available cash balance recorded in the cash book cannot be treated as unexplained cash credits under Section 68 or unexplained money under Section 69A of the Act.

Q: How many judgments cite Principal Commissioner of Income-tax v. Agson Global (P.) Ltd.?

57 judgments on BharatTax cite Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. (441 ITR 550), spanning 2022 to 2026.

DEPUTY COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN, BHOPAL vs. SH. PRAKASH CHANDRA GUPTA, BHOPAL

In the result the “impugned order” is sustained on the first

ITA 369/IND/2024[2017-18]Status: DisposedITAT Indore10 Apr 2026AY 2017-18

Bench: Shri B.M. Biyani & Shri Paresh M Joshidcit, Prakash Chandra, बनाम/ Bhopal 16/244, Kings Vs. Shopping Centre, Mp Nagar, Zone-I, Bhopal-462011 Madhya Pradesh (Pan:Aappg5194E)

Section 142(1)Section 143(2)Section 143(3)Section 250Section 253

…ion hence the onus has been discharged by it and the same income cannot be taxed again. Similiar decision of the Delhi Tribunal in the case of Agson Global Pvt. Ltd. vs. ACIT was affirmed by the Delhi High Court in the case of PCIT vs. Agson Global Pvt. Ltd. (441 ITR 550), wherein the Hon'ble High Court held that considering the trend of cash sales and corresponding cash deposited by the assessee with earlier years, we are of the view that there was nothing placed on record-which could have persuaded the Tribunal to conclude that the assessee had, in fact, earned unaccounted income i.e., made cash deposits which…

ITO, WARD 21(1), NEW DELHI, DELHI vs. M/S RETRO FOOTWEARS PRIVATE LIMITED, DELHI

In the result, the appeal of the Revenue is partly allowed

ITA 3291/DEL/2025[2017-18]Status: DisposedITAT Delhi20 Mar 2026AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2017-18] Ito, Ward-21(1), M/S Retro Footwear Private Limited, Room No.220, C.R. Building, J-19, Udyog Nagar, I.P. Estate, Vs New Delhi-110041 New Delhi-110002 Pan-Aadcr3787M Appellant Respondent Assessee By Shri Pramod Kumar, Ca & Shri Mukul Gupta, Adv. Revenue By Ms. Ankush Kalra, Sr. Dr Date Of Hearing 13.01.2026 Date Of Pronouncement 13.01.2026

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 68

…Ld. CIT(A) has erred in deleting the addition of Rs.1,23,97,000/- u/s 68 of the Act, 1961 merely on the ground that the case of the assessee is covered by the recent decision of jurisdictional High Court of Delhi in the case of PCIT Vs Agson Global (P.) Ltd. (441 ITR 550) wherein the Hon'ble High Court dismissed the appal of the Revenue wherein assessee had deposited the cash into the bank account in SBN post Page 2 of 6 demonetization which was realized from cash sales. The Ld. CIT(A) has not taken into account the principle laid down by the Hon'ble Supreme Court in the case of CIT Vs. Durga Prasad More 82 ITR 5…

KISHOR VITTHAL KOLHE,JALGAON vs. DCIT-CIRCLE-1, JALGAON, JALGAON

In the result, the appeal filed by the assessee is partly allowed

ITA 1876/PUN/2025[2017-18]Status: DisposedITAT Pune14 Jan 2026AY 2017-18

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18

For Appellant: Shri Vinay Kawadia (through virtual)For Respondent: Shri Vidya Ratna Kishore

Section 142(1)Section 143(1)Section 143(2)Section 68

…ed to the Profit and Loss Account as unexplained cash credit cannot be sustained: i) PCIT vs. Tripati Proteins (P.) Ltd. (2024) 165 taxmann.com 175 (Guj) ii) CIT vs. Vishal Exports Overseas Ltd. (Tax Appeal No.2471 of 2009) iii) PCIT vs. Agson Global (P) Ltd. 441 ITR 550 (Del) iv) Abhijit Vivek Swami vs. ACIT vide ITA No.319/PUN/2023 v) Mohit Sukhija vs. NFAC (2025) 175 taxmann.com 94 (Del) vi) Balwinder Kumar vs. ITO vide ITA No.256/ASR/2022 vii) Raj Kumar Dhab Wasti Ram vs. ITO vide ITA No.195/ASR/2022 viii) ACIT vs. Ramlal Jewellers vide ITA No.1600/Mum/2023 order dated 26.07.2023 ix) NECX (P) Ltd. Vs. ITO (20…

KDJP STEELS PRIVATE LIMITED,DELHI vs. NATIONAL FACELESS APPEAL CENTRE, DELHI

In the result, the appeal filed by the assessee is allowed

ITA 5900/DEL/2024[2017-18]Status: DisposedITAT Delhi23 Dec 2025AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumarassessment Year : 2017-18 Kdjp Steels Private Limited, Vs. National Faceless Appeal Centre, Plot No.50, Flat No.A-201, Delhi. Parshav Vihar, Patpar Ganj, Delhi – 110 092. Pan: Aacck6905F (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Sr. Advocate; Shri R.P. Mall, Advocate; Shri Shailesh Gupta, Ca & Shri Madhur Agarwal, Advocate Revenue By : Shri Om Parkash, Sr. Dr Date Of Hearing : 27.10.2025 Date Of Pronouncement : 23.12.2025

For Appellant: Shri Salil Agarwal, Sr. AdvocateFor Respondent: Shri Om Parkash, Sr. DR

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 250

…in the books of accounts maintained by the appellant, cash deposit in the bank account out of balance available in cash book could not be held to be unexplained u/s 69A or section 68 of the Act. Reliance is placed on the following judicial pronouncements: a) 441 ITR 550 PCIT vs Agson Global (P) Ltd. (Delhi High Court) b) 315 ITR 185 (P&H) CIT vs. OM Overseas b) 320 ITR 116 (All) CIT vs. Mascot India Tools & Forgings (P) Ltd. 5 c) 64 DTR 409 (Jai) Asstt. CIT vs. Shankar Exports d) 325 ITR 13 (Del) CIT vs. Paradise Holidays e) ITA No. 999/2010 dated 03.08.2010 CIT vs. M/s Rice India Exports Pvt. Ltd. f) ITA No. 16…

ACIT, CHENNAI vs. SRI BALAJI EDUCATIONAL AMD TRUST CHARITABLE PUBLIC TRUST , CHENNA

In the result, the appeal of the Assessee and that of the Department are dismissed

ITA 1471/CHNY/2025[2017-18]Status: DisposedITAT Chennai01 Dec 2025AY 2017-18

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/S. Sri Balaji Educational & Acit, Charitable Public Trust, Vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [Pan: Aacts-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./Ita Nos.:1471/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 Acit, M/S. Sri Balaji Educational & Central Circle 3(4), Vs. Charitable Public Trust, Chennai. No. 60, First Avenue, Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (अपीलाथ"/Appellant) [Pan: Aacts-1386-D] (&'थ"/Respondent) िनधा$)रती की ओर से/Assessee By : Shri. Y.Sridhar, Fca राज4 की ओर से /Revenue By : Ms. E. Pavuna Sundari, Cit सुनवाई की तारीख/Date Of Hearing : 08.09.2025 घोषणा की तारीख/Date Of Pronouncement : 01.12.2025

For Appellant: Shri. Y.Sridhar, FCAFor Respondent: Ms. E. Pavuna Sundari, CIT

Section 132Section 132(4)Section 143(3)Section 245D(4)Section 250

…आयकर अपीलीय अिधकरण, ‘ए’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एबी टी वक", "ाियक सद" एवं "ी एस. आर. रघुनाथा, लेखा सद" के सम# BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/s. Sri Balaji Educational and ACIT, Charitable Public Trust, vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [PAN: AACTS-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./ITA Nos.:1471/Chny/2025 िनधा$रण वष$ / Asse…

M/S. SRI BALAJI EDUCATIONAL AND CHARITABLE PUBLIC TRUST,CHENNAI vs. ACIT, CENTRAL CIRCLE-3(4), CHENNAI

In the result, the appeal of the Assessee and that of the Department are dismissed

ITA 1249/CHNY/2025[2017-18]Status: DisposedITAT Chennai01 Dec 2025AY 2017-18

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/S. Sri Balaji Educational & Acit, Charitable Public Trust, Vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [Pan: Aacts-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./Ita Nos.:1471/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 Acit, M/S. Sri Balaji Educational & Central Circle 3(4), Vs. Charitable Public Trust, Chennai. No. 60, First Avenue, Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (अपीलाथ"/Appellant) [Pan: Aacts-1386-D] (&'थ"/Respondent) िनधा$)रती की ओर से/Assessee By : Shri. Y.Sridhar, Fca राज4 की ओर से /Revenue By : Ms. E. Pavuna Sundari, Cit सुनवाई की तारीख/Date Of Hearing : 08.09.2025 घोषणा की तारीख/Date Of Pronouncement : 01.12.2025

For Appellant: Shri. Y.Sridhar, FCAFor Respondent: Ms. E. Pavuna Sundari, CIT

Section 132Section 132(4)Section 143(3)Section 245D(4)Section 250

…आयकर अपीलीय अिधकरण, ‘ए’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एबी टी वक", "ाियक सद" एवं "ी एस. आर. रघुनाथा, लेखा सद" के सम# BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 1249/Chny/2025 िनधा$रण वष$ / Assessment Year: 2017-18 M/s. Sri Balaji Educational and ACIT, Charitable Public Trust, vs. Central Circle 3(4), No. 60, First Avenue, Chennai. Jai Durga Complex, Ashok Nagar, Chennai – 600 083. Tamil Nadu. (&'थ"/Respondent) [PAN: AACTS-1386-D] (अपीलाथ"/Appellant) आयकर अपील सं./ITA Nos.:1471/Chny/2025 िनधा$रण वष$ / Asse…