ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, DHANBAD, DHANBAD vs. SHIVANSH RESIDENCY PVT LTD, KOLKATA

ITA 381/RAN/2024Status: DisposedITAT Ranchi20 April 2026AY 2021-224 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision to delete the addition on unsecured loans as the ultimate beneficiary had already admitted them as income. The Tribunal also upheld the CIT(A)'s restriction of commission income to 1%.

What were the facts?

The revenue appealed against the CIT(A)'s order deleting additions made on account of unsecured loans given by the assessee to M/s Atibir Industries Company Ltd. The assessee argued that the loans were already offered as income by the ultimate beneficiary.

What were the issues?

Whether additions on account of unsecured loans are sustainable when the ultimate beneficiary has admitted the same as income. Whether the estimation of commission income by the CIT(A) is erroneous.

Which sections of the Income-tax Act were involved?

Not explicitly mentioned in the provided text

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI

Before: SHRI GEORGE MATHAN & SHRI RATNESH NANDAN SAHAY

For Appellant: Shri Devesh Poddar, A.R
For Respondent: Shri Ashish Kumar Deharia, CIT-DR, Shri Devesh Poddar, A.R
Hearing: 20/04/2026Pronounced: 20/04/2026

PER: BENCH

1.

These are the appeals filed by the revenue against the separate orders of the ld. CIT(A), Patna-3, Patna all dated 24/07/2024 for the A.Y. 2021-22. As all the issues in all th

The order continues below.

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