{"id":52436,"date":"2025-03-31T12:17:02","date_gmt":"2025-03-31T06:47:02","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-nagin-a-vaghela-2024116-itr-25-snahdtrib\/"},"modified":"2025-03-31T12:17:02","modified_gmt":"2025-03-31T06:47:02","slug":"dy-cit-v-nagin-a-vaghela-2024116-itr-25-snahdtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-nagin-a-vaghela-2024116-itr-25-snahdtrib\/","title":{"rendered":"Dy. CIT v. Nagin A. Vaghela (2024)116 ITR 25 (SN)(Ahd)(Trib)"},"content":{"rendered":"<p>Held that the amounts carried\u00a0 over\u00a0 from\u00a0 previous year cannot be assessed as undisclosed income of the current year. As reagrds\u00a0 new loans the assessee failed to establish credit worthiness hence the\u00a0 addition is affirmed. As regards unabated assessment\u00a0 in respect\u00a0 of\u00a0 purchase and sale of land,\u00a0 addition can not\u00a0 be made merely on the basis of annual information return.(AY.2011-12, 2012-13, 2014-15, 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 153A : Assessment-Search-Unsecured Loans-Unexplained income-Penalty-Amounts carried  over  from  previous year cannot be assessed as undisclosed income of the current year-New loans-Failure to establish credit worthiness-Addition is affirmed-Unabated assessment-Purchase and sale of land-No addition can be made merely on the basis of annual information return. [S.68, 132, 271(1)(c), 276C]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-52436","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dDK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=52436"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52436\/revisions"}],"predecessor-version":[{"id":52437,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52436\/revisions\/52437"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}