RAMESH KUMAR SINGH,SURAT V. ITO, WARD 1(2)(5), SURAT

ITA 1216/SRT/2024

AI Insights

This case involves an appeal by Ramesh Kumar Singh against the order of the CIT(A)/ADDL/JCIT(A), Patna, which upheld the addition of Rs. 9,36,000 to the assessee's income for the assessment year 2014-15. The addition was made on account of an undisclosed investment in immovable property, which the assessee failed to disclose in his balance sheet. The assessee argued that the property was purchased with a cash gift from his father, an agriculturist, which was not disputed by the Assessing Officer. However, the source of the father's agricultural income was questioned. The tribunal found that the assessee had sufficiently explained the source of the cash used for the property purchase, leading to the allowance of the appeal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 832180 (ITAT-SURAT)
• Duration Of Justice: 1 year(s) 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: misc
• Appeal Filed On: 18-11-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NAMITA PATEL
• Assessee Lawyers: P M JAGASHETH
• Keywords: Gift

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. 1216/SRT/2024 (Assessment Year: 2014-15) Ramesh Kumar Singh, JG-4, Japan Market, Ring Road, Delhi Gate, Surat PAN : AYYPS3218E Vs. The ITO, Ward-1(2)(5), Surat (Appellant) .. (Respondent) Appellant by : Shri PM Jagasheth, CA Respondent by: Ms. Namita Patel, Sr. D.R. Date of Hearing 19.01.2026 Date of Pronouncement 21.01.2026 O R D E R PER SUCHITRA KAMBLE, JUDICIAL MEMBER:- This is an appeal filed against the order dated 19-09-2024 passed by CIT(A)/ADDL/JCIT(A), Patna for assessment year 2014-15. 2. The assessee purchased an immoveable property for a consideration of Rs. 9,00,000/- and paid stamp duty of Rs. 36,000/- in A.Y. 2014-15. Since the assessee has not shown this property in balance sheet, the Assessing Officer made addition of Rs. 9,36,000/- on account of undisclosed investment in immovable property. The assessee submitted before the Assessing Officer that the assessee received gift from his father who is having agricultural income. Since the gift amount was received in Printed from counselvise.com ITA No. 1216/Srt/2024 Rameshkumar Singh Vs. ITO Asst. Year : 2014-15 - 2– cash, the assessee paid cash. The Assessing Officer did not dispute the fact that the assessee received gift from his father in cash. Thus, the assessee has given the details of the source of the cash amount, but the Assessing Officer as well as the CIT(A) proceeded that the assessee did not explain the source of the income of the father which was agricultural income. In fact, the assessee clearly mentioned that the assessee’s father is agriculturist and this fact was not denied by the Assessing Officer. Thus, the assessee has explained the source of the cash. Therefore, we hold that the property purchased in cash was genuine transaction and the addition does not sustain. 3. In the result, the appeal of the assessee is allowed. The order is pronounced in the open Court on 21.01.2026 Sd/- Sd/- Sd/- Sd/- (DR. B.R.R. KUMAR) (SUCHITRA KAMBLE) VICE-PRESIDENT JUDICIAL MEMBER Surat; Dated 21/01/2026 ak आदेश की \u0007ितिलिप अ ेिषत/ / / /Copy of the Order forwarded to : 1. अपीलाथ\u0011 / The Appellant 2. \u0007\u0012थ\u0011 / The Respondent. 3. संबंिधत आयकर आयु\u001a / Concerned CIT 4. आयकर आयु\u001a ) ) ) ) अपील ( ( ( ( / The CIT(A)- 5. िवभागीय \u0007ितिनिध , , , , आयकर अपीलीय अिधकरण , , , , /DR,ITAT, Surat, 6. गाड! फाईल / / / / Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Surat Printed from counselvise.com "