2025 (11) TMI 1607

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....sed the following grounds of appeal: 1. The order of the Learned Commissioner of Income Tax (Appeals) is erroneous in Law and on the facts of the case. 2. The Learned Commissioner of Income Tax (Appeals) is not correct in treating total credits in bank statements i.e Rs.12,21,810/- as unexplained money u/s 69A of the Income Tax Act, 1961. 3. The Learned Commissioner of Income Tax (Appeals) is not correct in levying demand of Rs.21,01,292/- on the total assessed income i.e. Rs.13,70,226/- 4. Any other grounds may kindly be allowed at the time of hearing the appeal. Appellant craves leaves to, add to, amend to or modify the above ground of appeal either before or during the hearings of the appeal, as permit....

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....on 69C of the Act; however, sustained the addition of Rs. 12,21,810/- made by the Ld. AO under section 69A of the Act. Accordingly, the appeal of the assessee was partly allowed. 5. Aggrieved with the order of the Ld. CIT(A), the assessee is in appeal before this Tribunal. The Learned Authorized Representative ("Ld. AR") submitted that the sole issue arising out of the grounds of appeal of the assessee is with respect to the addition of Rs. 12,21,810/- under section 69A of the Act on account of total credits in the bank accounts of the assessee during the year under consideration. In this regard, the Ld. AR submitted that earlier the assessee was engaged in the business of retail trading of liquor. In support of this contention, the Ld. ....

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.... of the addition made by the Ld. AO and sustained by the Ld. CIT(A). 6. Per contra, the Learned Departmental Representative ("Ld. DR") relied upon the orders of the lower authorities. He prayed to uphold the order of the lower authorities. 7. We have considered the rival submissions and perused the material available on record. We have gone through the assessment order for A.Y. 2017-18 placed at page nos. 27 to 30 of the paper book, the copies of license fee payments placed at page nos. 31 to 34 of the paper book and the audited balance sheet of the assessee as at 31.03.2018 placed at page no. 23 of the paper book. The copy of first page of the assessment order for A.Y. 2017- 18 placed at page no. 27 is reproduced as under: 8. On p....

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....nts and audited balance sheet reflecting receivables of Rs. 15 lakhs, all of which clearly demonstrate the availability of explained sources for the bank deposits. Therefore, the addition of Rs. 12,21,810/- made by the Ld. AO and sustained by the Ld. CIT(A) under section 69A of the Act is directed to be deleted. 10. In the result, the appeal of the assessee is allowed. Order pronounced in the Open Court on 19th November, 2025. ============= Document 1 GOVERNMENT OF INDIA MINISTRY OF FINANCE INCOME TAX DEPARTMENT OFFICE OF THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1,KARIMNAGAR To. NAVIN NARAYAN GURRAMWAR 1-72,BADANKAL (V) MUSTABAD (M) RAJANNA SIRCILLA 505404,Telangana India PAN: BIHPG3983L AY: 2017-18 Order No: ITBA/AS....