Minaben Amrutlal Patel vs. The ITO, International Taxation, Surat

Parties Involved

Facts Summary

The assessee, Minaben Amrutlal Patel, did not file the original return of income for the assessment year 2018-19. The case was reopened under section 148 of the Income-tax Act, 1961, and a notice was issued on 26.03.2022. The assessee filed the return on 04.03.2023, declaring a total income of Rs.67,890/-. The Assessing Officer (AO) issued notices under sections 143(2) and 142(1) of the Act and made an addition of Rs.1,92,72,597/- on account of unexplained income under section 69A of the Act. The assessee filed an objection before the Dispute Resolution Panel (DRP), which was rejected. The assessee then filed an appeal before the Income Tax Appellate Tribunal (ITAT). The assessee claimed that the source of funds was explained and supported by evidence. The Tribunal analyzed the submissions and decided to delete the addition of Rs.65,00,000/- on account of the loan from Zaverbhai Naginbhai Patel and partially allowed the addition of Rs.5,00,000/- on account of cash deposits.…

Legal Issues

• 1. Whether the addition of Rs.11,00,000/- made by the AO under section 69A of the Act is justified?
• 2. Whether the addition of Rs.65,00,000/- made by the AO on account of the loan from Zaverbhai Naginbhai Patel is justified?

Judgment Outcome

Decided in favour of Assessee.

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