RAMESHCHANDRA VASANTLLAL & CO,SURAT V. INCOME TAX OFFICER, BARDOLI

ITA 12/SRT/2025

AI Insights

The case involves an appeal by M/s. Rameshchandra Vasantlal & Co. against an order from the Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre, Delhi, concerning the Assessment Year 2012-13. The primary issue was the addition of Rs.61,74,461 to the assessee's account, which was operated by Shri Rameshchandra Vasantlal Mehta, the proprietor. The Tribunal examined whether these deposits, which were attributed to a now-defunct firm, should have been added to the firm's income. The Tribunal concluded that since the deposits were reported in the personal tax return of Shri Mehta, no addition to the firm's income was necessary.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 831257 (ITAT-SURAT)
• Duration Of Justice: 1 year(s) 15 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: 06-01-2025
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJAY UKE
• Assessee Lawyers: K GOPAL

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.12/Srt/2025 (Assessment Year: 2012-13) Rameshchandra Vasantllal & Co., Main Bazar, At N PO Madhi, Dist. Surat, Surat-394340 [PAN : AADFR1395L] Vs. Income Tax Officer, Ward-1, Bardoli. (Appellant) .. (Respondent) Appellant by : Shri K Gopal, 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:- Delay Condoned This appeal has been filed by the Assessee against the order dated 25.01.2024 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 2012-13. 2. In the present case, the addition has been made in the hands of the assessee- firm, which had already ceased to exist in the name of M/s. Rameshchandra Vasantlal & Co. The total cash deposits in the said bank account amounted to Rs.61,74,461/-. It was submitted before us that this bank account was operated by Shri Rameshchandra Vasantlal Mehta, and that the entire deposits reflected therein pertain to the proprietary concern of Shri Rameshchandra Vasantlal Mehta. A bank certificate to this effect was also submitted before us. 3. We have carefully gone through the records. It is an undisputed fact that the amounts deposited in this bank account have been duly reflected in the Income Tax Printed from counselvise.com ITA No. 12/Srt/2025 Asst. Year : 2012-13 - 2– Return filed by Shri Rameshchandra Vasantlal Mehta, Proprietor of M/s. Rameshchandra Vasantlal & Co. Accordingly, no addition is called for. 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 1. Date of dictation …words processed by Hon’ble VP on his PC on 17.10.2025……………. 2. Date on which the typed draft is placed before the Dictating Member …03.11.2025…………. 3. Other Member ……06.11.2025………. Date on which the app 4. Date of Dispatch of the Order…………………………………… Printed from counselvise.com "