AMIGO FINSTOCK PRIVATE LIMITED,AHMEDABAD vs. THE INCOME-TAX OFFICER, WARD 1(1)(1), AHMEDABAD, AHMEDABAD

ITA 1542/AHD/2026Status: DisposedITAT Ahmedabad11 September 2026AY 2015-1612 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the reopening of the case was valid as the AO had applied his mind. However, for A.Y. 2014-15 and 2015-16, the matter of additions related to a loan and its repayment was set aside to the AO for verification.

What were the facts?

The assessee's case was reopened based on information suggesting accommodation entries in the form of bogus loans. The Assessing Officer (AO) made additions on account of these alleged bogus loans and interest. The CIT(A) confirmed these additions, leading to the present appeals.

What were the issues?

The key issues were the validity of reopening the assessment, the genuineness of loan transactions, and the correctness of additions made on account of alleged bogus loans and interest.

Which sections of the Income-tax Act were involved?

Section 147,Section 144B,Section 69A,Section 115BBE,Section 143(2),Section 131,Section 153C,Section 234A,Section 234B,Section 234C,Section 234D,Section 271(1)(c),Section 271(1)(b),Section 271F

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

Before: SHRI NARENDRA PRASAD SINHA & SHRI TAPAS RAM MISRA

For Appellant: Shri Parimalsinh B Parmar, AR
For Respondent: Shri Amit Pratap Singh, SR-DR
Hearing: 18.08.2026Pronounced: 11.09.2026

PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER:

These three appeals are filed by the Assessee against separate orders of National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as “CIT(A)”] all dated 25.02.2026 for the Assessment Years (A.Y.) 2013-14, 2014-15 and 2015-16 in the proceeding u/s 147 r.w.s. 144B of the Income Tax Act [hereinafter referred as “the Act”]. As the facts involved in the three appeals are identical, all the matters were heard together and are being disposed of vide this common order for the sake of convenience. We will take the appeal in ITA No. 15

The order continues below.

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