Tejal Kaushik Maisheri Vs ACIT (ITAT Hyderabad)
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) disposed of two connected appeals arising from orders of the Commissioner of Income Tax (Appeals)-12, Hyderabad dated 30.10.2025, which affirmed assessments completed under Section 153C of the Income-tax Act, 1961 on 21.02.2025 for Assessment Year 2019-20. Since both appeals involved common issues, the Tribunal passed a consolidated order.
The assessee had filed her return of income on 03.03.2020, declaring income of ₹6,01,230. A search under Section 132 was conducted in the case of the Spectra Group of Companies on 23.03.2021. During the search, loose sheets comprising an Agreement of Sale and a receipt acknowledging payment of ₹50 lakh were seized. The documents related to sale of land owned by the assessee and her husband. The agreement recorded that ₹50 lakh had been received from Shri Kalluri Manohar Reddy on 26.04.2018 as part of the sale consideration. However, the property was ultimately sold through registered sale deeds dated 22.06.2019 to M/s Spectra India Eco Projects Pvt. Ltd.
The Assessing Officer concluded that the assessee and her husband had failed to explain the nature and source of the amount of ₹50 lakh and treated it as unexplained money under Section 69A, making an addition of ₹25 lakh in the hands of each. The Commissioner (Appeals) confirmed the addition.
