TEXLABLES INDIA PVT. LTD.,KOLKATA vs. I.T.O., WARD - 11(1), KOLKATA

ITA 2196/KOL/2026Status: DisposedITAT Kolkata21 September 2026AY 2019-20205 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had discharged its burden under Section 68 by providing documentation for the loan, including repayment with interest. The addition made by the AO and confirmed by the CIT(A) was deleted.

What were the facts?

The assessee received an unsecured loan of Rs. 23,00,000/-. The Assessing Officer made an addition on account of this loan, treating it as an accommodation entry. The CIT(A) dismissed the assessee's appeal.

What were the issues?

Whether the assessee provided sufficient evidence to prove the identity, genuineness, and creditworthiness of the unsecured loan lender, thereby discharging its onus under Section 68.

Which sections of the Income-tax Act were involved?

Section 68,Section 147,Section 144B,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH,

Before: SHRI YOGESH KUMAR U.S. & SHRI GOPALAN GURUSAMY

For Appellant: Shri Miraj D Shah, AR
For Respondent: Shri Sanjib Kumar Paul, Sr. DR
Hearing: 17.08.2026Pronounced: 21.09.2026

PER YOGESH KUMAR U.S., JUDICIAL MEMBER:

This Appeal is filed by the Assessee against the order of the NFAC, Delhi (‘Ld. CIT(A)’ for short) dated 23.02.2026, passed u/s 250 of the Income Tax Act, 1961 (“the Act”, for short) pertaining to the Assessment Year 2019-20. 2. There is a delay of 46 days in filing the present Appeal. The Assessee filed an application for condonation of delay explaining the cause for the delay. For the reasons stated in the application for condonation of delay, the delay of 46 days in filing the present Appeal is hereby condoned. Texlables India Private Limited; A.Y: 2019-20

3.

Brief facts of the case are that, case of the Assessee was reopened for the reason that Assessee had take

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 68

All 29,931 judgments and leading authorities on Section 68 →

Recent GST High Court judgments

Search GST case law →