LORDS CHEMICALS LIMITED,KOLKATA vs. ACIT CIRCLE 11(2), KOLKATA

ITA 1476/KOL/2026Status: DisposedITAT Kolkata16 September 2026AY 2013-144 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the addition was made due to a minor discrepancy in the name of the transporter. The assessee had provided confirmation and ledger entries showing the refund of an advance given in an earlier year.

What were the facts?

The assessee received a refund of Rs. 6,20,000/- from a transporter, which the Assessing Officer treated as an unexplained cash credit. The assessee explained that it was a refund of an advance given for transportation services.

What were the issues?

Whether the refund of an advance from a transporter, with a slight name variation, constitutes an unexplained cash credit under Section 68 of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH: KOLKATA

Before: Shri Rajesh Kumar & Shri Pradip Kumar Choubey]

Per Rajesh Kumar, AM: These are the appeals preferred by the assessee against the separate orders of the Ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 09.02.2026 and 13.02.2026 for the AY 2013-14.First we shall adjudicate in ITA No. 1475/Kol/2026 for AY 2013-14. 2. The only issue raised and pressed at the time of hearing is against the confirmation of addition of Rs. 6,20,000/- by the Ld. CIT(A) as made by the Assessing Officer u/s 68 as unexplained cash credit

The order continues below.

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