Income Tax Officer vs. Ramesh Kumar Bagri
Case No: ITA No.521/Del/2025, ITA No.522/Del/2025, ITA No.523/Del/2025, ITA No.524/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Benches ‘B’
Date: 1/21/2026
Parties Involved
appellantIncome Tax Officer
respondentRamesh Kumar Bagri
Facts Summary
The assessee, Ramesh Kumar Bagri, proprietor of M/s. Ess Pee Industries, did not file a return of income for the Assessment Year 2015-16. The case was re-opened under section 148 of the Income-tax Act, 1961 due to high value credits of Rs.42,56,68,844/- in his bank account during the Financial Year 2014-15, which remained unexplained. Despite multiple notices and opportunities to explain the source of these credits, the assessee failed to provide any documentary evidence or explanation. Conseque…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Whether the Learned CIT(A) erred in assessing the commission percentage at 0.50% without providing cogent reasons or verifying the correctness of such a declaration.
- 2. Whether the Learned CIT(A) erred in failing to examine the source of other cash deposits/credits amounting to Rs.42,56,68,844/- in the bank accounts of the assessee.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
6 precedents cited in this judgement.