BALDA MAJUR & KAMDAR SAHKARI MANDALI LTD.,TAPI V. ITO, WARD 2, BARDOLI

ITA 1357/SRT/2024

AI Insights

The case involves Balda Majur & Kamdar Sahkari Mandli Ltd., the appellant, contesting additions made by the Income Tax Officer, Ward-2, Bardoli, the respondent, regarding the Assessment Year 2017-18. The primary issues were the addition of Rs.30,40,000 for cash deposits during the demonetization period and Rs.43,91,924 for unexplained deposits from Kukermunda Taluka Panchayat. The Tribunal's decision, pronounced by Dr. B.R.R. Kumar, Vice-President, and Ms. Suchitra Kamble, Judicial Member, on 22.01.2026, favored the appellant, leading to the allowance of the appeal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 831253 (ITAT-SURAT)
• Duration Of Justice: 1 year(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 30-12-2024
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJAY UKE
• Assessee Lawyers: SURESH K KABRA

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT Ms SUCHITRA KAMBLE, JUDICIAL MEMBER ITA No.1357/Srt/2024 (Assessment Year: 2017-18) Balda Majur & Kamdar Sahkari Mandli Ltd., At. Balda, Ta. Nizar, Dist. Tapi-394370. [PAN : AAAAB1839R] Vs. Income Tax Officer, Ward-2, Bardoli. (Appellant) .. (Respondent) Appellant by : Shri Suresh K Kabra, AR Respondent by: Shri Ajay Uke, Sr. DR Date of Hearing 19.01.2026 Date of Pronouncement 22.01.2026 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 18.10.2024 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 2017-18. Ground No.1 2. The Assessing Officer made an addition of Rs.30,40,000/- on account of cash deposits made during the demonetization period. The assessee submitted the bank statement reflecting cash withdrawals of Rs.14,40,000/-, Rs.15,00,000/- and Rs.1,00,000/- on 07.11.2016, and the amount of Rs.30,40,000/-, was subsequently deposited in the bank on 10.11.2016. Since the cash deposit is directly correlated with the prior cash withdrawals, no addition is called for. Printed from counselvise.com ITA No. 758/Srt/2025 Asst. Year : 2016-17 - 2– Ground No.2 3. With regard to the addition on account of unexplained deposit of Rs.43,91,924/- received from Kukermunda Taluka Panchayat towards execution of contractual work, it is noted that the said amount represents contractual receipts. As the receipts are duly explained and arise from execution of work, no addition is warranted. 4. In the result, the appeal of the assessee is allowed. The order is pronounced in the open Court on 22.01.2026. Sd/- Sd/- (SUCHITRA KAMBLE) (DR. B.R.R. KUMAR) JUDICIAL MEMBER VICE-PRESIDENT (True Copy) Surat; Dated 22.01.2026 **mv आदेश की Ůितिलिप अŤेिषत/Copy of the Order forwarded to : 1. अपीलाथŎ / The Appellant 2. ŮȑथŎ / The Respondent. 3. संबंिधत आयकर आयुƅ / Concerned CIT 4. आयकर आयुƅ ) अपील ( / The CIT(A)- 5. िवभागीय Ůितिनिध , आयकर अपीलीय अिधकरण , /DR,ITAT, Surat, 6. गाडŊ फाईल / Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Surat Printed from counselvise.com "