Nawab Motors Pvt. Ltd. Vs ITO
Case No: ITA No.- 7069/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench
Bench: Delhi Bench
Date: 2/12/2026
Parties Involved
assesseeNawab Motors Pvt. Ltd.
revenueITO
Facts Summary
The AO noted that the assessee had not filed its original return of income. The case was re-opened vide notice u/s 148 of the Act dated 29.03.2022 inter alia on the ground of cash deposit of Rs. 3,63,55,120/- in the bank account of the assessee. The assessee explained that the source of cash deposits was from customers paying in cash at showroom/workshop or directly at the bank account. The AO did not accept this explanation due to several anomalies and treated the cash deposit as unexplained mo…
Decision in favour of
Assessee
Legal Issues
- 1. Cash deposit of Rs. 3,63,55,120/- treated as unexplained money.
- 2. Disallowance of loss of Rs. 9,20,32,970/- claimed by the assessee.
Precedents Relied Upon
1 precedent cited in this judgement.