EASTERN AND WESTERN DRESSES TRADING PRIVATE LIMITED,NEW DELHI vs. ITO WARD-8(1), NEW DELHI

ITA 1939/DEL/2020Status: DisposedITAT Delhi03 July 2025AY 2011-12Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee failed to prove the genuineness and creditworthiness of the investor companies, despite filing various documents. Mere filing of documentary evidence is not sufficient to discharge the onus under Section 68.

What were the facts?

The assessee received share application and premium amounting to Rs. 1,20,00,000/- from four parties. The Assessing Officer treated this amount as unexplained cash credit under Section 68, citing information that the investor companies were facilitators for providing accommodation entries.

What were the issues?

Whether the assessee discharged its onus to prove the genuineness and creditworthiness of share application money received under Section 68, when the investor companies were allegedly facilitators of accommodation entries.

Which sections of the Income-tax Act were involved?

Section 68

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Income Tax Appellate Tribunal, DELHI BENCH: ‘B’ NEW DELHI

Before: SHRI SATBEER SINGH GODARA & SHRI S. RIFAUR RAHMAN

Hearing: 03.07.2025Pronounced: 03.07.2025

PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2011-12, arises against the Commissioner of Income Tax (Appeals)-3 [in short, the “CIT(A)”], New Delhi’s order dated 05.03.2020 passed in case no. 3/10284/18-19, involving proceedings under section 143(3)/147of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Case called twice. None appears at the assessee’s behest. It is accordingly proceeded ex-parte.

2.

Delay of 194 days in filing the assessee’s instant appeal is condoned in larger interest of justice and in light of Collector, Land & Acquisition vs. Mst. Katiji & Others (1987) 167 ITR 471 (SC).

3.

The Revenue vehemently argues that both the learned lower authoriti

The order continues below.

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