ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, DHANBAD, DHANBAD vs. HIGHLIGHT INFRASTRUCTURE PVT LTD, KOLKATA

ITA 384/RAN/2024Status: DisposedITAT Ranchi21 April 2026AY 2021-224 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision to delete the addition of unsecured loans as they were already admitted by the ultimate beneficiary. The Tribunal also upheld the CIT(A)'s restriction of commission income to 1%, as the assessee did not appeal this reduction.

What were the facts?

The revenue appealed against the CIT(A)'s order deleting additions related to unsecured loans given by the assessee to M/s Atibir Industries Company Ltd. M/s Atibir Industries Company Ltd. had already offered these loans as income.

What were the issues?

Whether additions for unsecured loans are justified when the ultimate recipient has admitted them as income. Whether the estimation of commission income by the CIT(A) is erroneous.

Which sections of the Income-tax Act were involved?

Section 68

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: 21/04/2026Pronounced: 21/04/2026

PER: BENCH

1.

Both are the appeals filed by the revenue against the separate orders of the ld. CIT(A), Patna-3, Patna both dated 24/07/2024 for the A.Y. 2021-22. As all the issues in both these appeals relate to the common issues, therefore, they are being disposed off by this common order. As a lead case, we take up ITA No. 384/Ran/2024. 2. Shri Ashish Kumar Deharia, ld. CIT-DR is represented on behalf of the revenue and Shri De

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 →

Latest GST High Court judgments

Search GST case law →