Mr. Niket Sohanlal Jain Vs. Officer-in-charge (NFAC), Delhi
Case No: ITA No.6775/Mum/2025
Court: INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI
Date: 1/30/2026
Parties Involved
appellantMr. Niket Sohanlal Jain
respondentOfficer-in-charge (NFAC), Delhi
Facts Summary
The assessee, Mr. Niket Sohanlal Jain, is an individual engaged in the business of manufacturing and wholesale and retail trade. He filed his return of income for the Assessment Year 2021-22 declaring a total income of Rs.44,56,830/-. His case was selected for complete scrutiny under CASS, and notices under sections 143(2) & 142(4) of the Income Tax Act, 1961 were issued. During the assessment proceedings, the Learned Assessing Officer sought details regarding sundry creditors aggregating to Rs.…
Decision in favour of
Assessee
Legal Issues
- 1. Non-consideration of additional evidence by the Learned Commissioner of Income Tax (Appeals).
- 2. Confirmation of additions by the Learned Commissioner of Income Tax (Appeals) on account of unexplained cash credit being sundry creditors under section 68 of the Income Tax Act, 1961.
2 more legal issues analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.