PRADEEP JANARDHAN SAKHARE,SAMBHAJINAGAR vs. ITO, WARD-1(A), AURANGABAD, AURANGABAD
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 2509/PUN/2025[2018-19]Status: DisposedITAT Pune18 Dec 2025AY 2018-19
Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita No.2509/Pun/2025 धििाारण वर्ा / Assessment Year : 2018-19 Pradeep Janardhan Sakhare, Ito, Ward – 1(1), Ashay Regency, Flat No. 9, Aurangabad New Vishal Nagar, Chh. Sambhajinagar, Vs. Maharashtra-431001 Pan : Bobps8283M अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Shri Shubham N. Rathi (Virtual) Department By : Smt. Indira R. Adakil Date Of Hearing : 04-12-2025 Date Of 18-12-2025 Pronouncement : आदेश / Order Per Astha Chandra, Jm : The Appeal Filed By The Assessee Is Directed Against The Order Dated 26.09.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac”] Pertaining To Assessment Year (“Ay”) 2018-19. 2. Briefly Stated The Facts Are That The Assessee Is An Individual. For Ay 2018-19, The Assessee Filed His Return Of Income Declaring Income Of Rs.3,17,830/-. Based On The Information Received From The Insight Portal Under „High Risk Criu/Vru Information‟, It Was Found That The Assessee Has Done Transaction In Crypto Currency Of Rs.38,54,500/-, The Source Of Which Requires Verification & Also There Were Unexplained Credit Entries Aggregating To Rs.40,44,044/-. As The Assessee Failed To Disclose The Above Transaction In The Itr Filed For The Ay 2018-19, The Ld. Assessing Officer (“Ao”) Had Reason To Believe That The Above Income In Ay 2018-19 Has Escaped Assessment. Accordingly, The Case Of The Assessee Was Reopened U/S 147 By Issue Of Notice U/S 148 Of The Income Tax Act, 1961 (The “Act”) Dated 07.04.2022. In Response Thereto, The Assessee Filed His Return Of Income On 09.06.2023. Statutory Notice(S) U/S 142(1) & 144 Were Then Issued To The Assessee. As The Assessee Failed To File Any Compliance
For Appellant: Shri Shubham N. Rathi (Virtual)For Respondent: Smt. Indira R. Adakil
Section 142(1)Section 144Section 147Section 148Section 148ASection 151Section 151ASection 69ASection 69B
147 r.w.s. 144
r.w.s. 144B of the Act thereby making an addition of Rs.38,54,500/- on account of unexplained investments in crypto currency u/s 69B and credit entries of RS.40,44,044/- as unexplained money u/s 69A of the Act, to the returned income of Rs.3,17,830/-.
3. Aggrieved, the assessee filed an appeal before
