TANISH AGRISCIENCE PRIVATE LIMITED,NEW DELHI vs. INCOME TAX OFFICER, NEW DELHI

ITA 2754/DEL/2026Status: DisposedITAT Delhi28 September 2026AY 2017-188 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee claimed the increase in share capital was through conversion of unsecured loans from directors. However, the assessee failed to provide sufficient evidence to substantiate this claim, leading to the addition being upheld.

What were the facts?

The assessee company's paid-up share capital increased by Rs. 49 lakhs. The Assessing Officer added this amount to the total income under Section 68 as unexplained receipt of share capital, as the assessee failed to provide satisfactory details of the source. The CIT(A) upheld the AO's order.

What were the issues?

Whether the increase in share capital is to be treated as unexplained income under Section 68 when the assessee fails to provide satisfactory evidence of its source, such as conversion of unsecured loans.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

Before: Shri Mahavir Singh & Shri Manish Agarwal

For Appellant: Shri Salil Kapoor, Adv., Sh. Shivam Yadav, Adv. &, Ms. Ananya Kapoor, Adv
Hearing: 07.07.2026Pronounced: 28.09.2026

PER MAHAVIR SINGH, VICE PRESIDENT:

This appeal of assessee is arising from the order dated 20.1.2026 of the National Faceless Appeal Centre (NFAC)/Commissioner of Income Tax (Appeals) (hereinafter referred as CIT(A)) in appeal No. CIT(A), Delhi- 9/10650/2019-20. Assessment in this case was framed u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred as Act), vide order dated 27.12.2019 passed by the ITO, Ward 25(1), New Delhi for the relevant assessment year 2017-18. 2. The assessee has raised as many as 12 grounds of appeal, but he only argued the Ground No. 4 & 5 which

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 →