Jayeshbhai Umedbhai Patel vs ITO, Ward-3(2)(7) Ahmedabad

Parties Involved

Facts Summary

The assessee, Jayeshbhai Umedbhai Patel, filed an appeal against the order of the Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi dated 16.10.2023 for the Asst.Year 2010-11. The appeal was against the additions made by the Revenue authorities for unexplained investments in capital and construction of a residential house. The assessee argued that the additions were erroneous as the investments were duly explained and made in earlier assessment years. The assessee's counsel submitted that due compliance would be made before the Chief Income Tax Officer (Appeal) if given an opportunity. The Department of Revenue had no objection to the matter being revisited by the Chief Income Tax Officer (Appeal) through a de novo appellate proceeding.…

Legal Issues

• 1. Addition of Rs.11,88,475/- made towards unexplained investment in capital account of firm.
• 2. Addition of Rs.11,74,200/- made towards unexplained investment in construction of residential house.

Judgment Outcome

Decided in favour of Assessee.

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