BANKIMCHANDRA M. DESAI,VALSAD V. ITO, WARD-1, VALSAD

ITA 817/SRT/2025

AI Insights

This case involves an appeal by Bankimchandra M. Desai against the order of the National Faceless Appeal Centre (NFAC), which confirmed the addition of Rs. 14,04,650 to the assessee's income for the assessment year 2009-10. The addition was initially made by the Assessing Officer due to the non-production of evidence regarding the source of income for a property purchase valued at Rs. 43,00,000, which was jointly purchased by the assessee and his wife. The Tribunal, after reviewing the documents provided by the assessee, including cash books, bank statements, and details of agricultural income, concluded that the assessee had sufficiently explained the source of the investment and allowed the appeal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 834147 (ITAT-SURAT)
• Duration Of Justice: 5 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 06-08-2025
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHISH KUMAR
• Assessee Lawyers: HIREN M. DIWAN

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL SURAT “SMC” BENCH, SURAT BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No. 817/SRT/2025 (Assessment Year:2009-10) Bankimchandra M. Desai, A-101 Amarkruti Apartment, Tithal Road, Valsad PAN : ABQPD3766R Vs. The ITO, Ward-1, Valsad (Appellant) .. (Respondent) Appellant by : Shri Hiren M. Diwan, C.A. Respondent by: Shri Ashish Kumar, Sr. D.R. Date of Hearing 22.01.2026 Date of Pronouncement 03.02.2026 O R D E R PER SUCHITRA KAMBLE, JUDICIAL MEMBER:- This is an appeal filed against the order dated 11-06-2025 passed by National Faceless Appeal Centre (NFAC), Delhi for assessment year 2009-10. 2. The case of the assessee was reopened based on the information that the assessee had purchased immoveable property valued at Rs.43,00,000/-. The assessee submitted before the A.O. that the property was jointly purchased by him and his wife amounting to Rs. 43,00,000/-. Since the assessee did not produce evidence such as return of income of wife and the source of income for said investment, the Assessing Officer Printed from counselvise.com ITA No. 817/Srt/2025 Bankimchandra M. Desai Vs. ITO Asst.Year :2009-10 - 2– made the addition of Rs. 43,00,000/-. The CIT(A) has confirmed the said addition to the extent of Rs. 14,04,650/-. 3. The ld. A.R. submitted that the assessee has given the details of cash book along with ledger of land which is as follows:- Page No. Description 27 This is page is a ledger of land at Pardi Ser. No. 122, 123/1, 121/P in the books of assessee from 01.04.2008 to 01.03.2009 indicating cash payment. 28 This is page is a ledger of Advance Agn. Land Dhirubhai in the books of assessee from 01.04.2008 to 01.03.2009 indicating cash payment. 29 This page is bank statement of account no. 1000/4607 of the assessee maintained with SardarBhiladwalaPardi People's Co.-Op. Bank Ltd. 30 This page is cash book of assessee from 25.04.2008 to 23.06.2008 31 This page is cash book of assessee from 30.06.2008 to 19.08.2008 32 This page is cash book of assessee from 31.08.2008 to 24.10.2008 33 This page is cash book of assessee from 24.10.2008 to 10.11.2008 34 This page is cash book of assessee from 10.11.2008 to 30.01.2009 4. The ld. D.R. relied upon the assessment order and order of the CIT(A). 5. We have heard both the parties and perused all the relevant material available on record. The CIT(A) has not considered the agricultural income of the assessee to the extent of Rs. 9,66,000/- for which the assessee has given the details from 32 to 38 page of the paper book. From the perusal of the record, it appears that the assessee has explained the entire amount including that of Rs. 14,04,650/-, therefore, we hold that the assessee explained through various documents, the source of investment. Printed from counselvise.com ITA No. 817/Srt/2025 Bankimchandra M. Desai Vs. ITO Asst.Year :2009-10 - 3– 6. In the result, the appeal of the assessee is allowed. Order ispronounced in the open Court on 03.02.2026 Sd/- Sd/- (DR. B.R.R. KUMAR) (SUCHITRA KAMBLE) VICE-PRESIDENT JUDICIAL MEMBER Surat; Dated 03/02/2026 ak True Copy आदेशकीŮितिलिपअŤेिषत/Copy of the Order forwarded to : 1. अपीलाथŎ/ The Appellant 2. ŮȑथŎ/ The Respondent. 3. संबंिधतआयकरआयुƅ/ Concerned CIT 4. आयकरआयुƅ ) अपील ( / The CIT(A)- 5. िवभागीयŮितिनिध , आयकरअपीलीयअिधकरण , /DR,ITAT, Surat, 6. गाडŊफाईल / Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायकपंजीकार (Asstt. Registrar) आयकरअपीलीयअिधकरण ITAT, Surat Printed from counselvise.com "