ENDURA SOFT SOLUTION PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 4(2)(1), MUMBAI
IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH,
MUMBAI
BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT
&
SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER
Endura
Soft
Solution
Private Limited, 2nd Floor,
Geeta Building, Sion Circle,
Sion East, Next to HP Petrol
Pump,
Mumbai–
400
022,
Maharashtra v/s.
बनाम
Deputy
Commissioner of Income
Tax,
Ward
–
4(2)(1),
Aayakar
Bhawan,
Churchgate,
Mumbai
–
400020, Maharashtra
स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABTA2813L
Appellant/अपीलार्थी
..
Respondent/प्रतिवादी
Appellant by :
Shri Shubham Shah,AR
Respondent by :
Shri Hemanshu Joshi (Sr. DR)
Date of Hearing
16.07.2025
Date of Pronouncement
24.07.2025
आदेश / O R D E R
PER PRABHASH SHANKAR [A.M.] :-
The present appeal is filed by the assessee against the order passed by the Learned Commissioner of Income-tax (Appeals)/NFAC,
Delhi [hereinafter referred to as “CIT(A)”] pertaining to assessment order passed u/s. 143(3) r.w.s. 144B of the Income-tax Act, 1961
[hereinafter referred to as “Act”] dated 20.04.2021 for the Assessment
Year [A.Y.] 2018-19. P a g e | 2
A.Y. 2018-19
Endura Soft Solution Private Limited
The grounds of appeal are as under:- 1. On given facts, circumstances and judicial pronouncements Hon. CIT (Appeals) erred in confirming addition made under section 68 for loan availed during the year amounting to Rs. 2,83,56,010 from M/s. Sunglow Fininvest Private Limited (NBFC). Such addition is bad in law and liable to be deleted.
Without prejudice to the above, On given facts, circumstances and judicial pronouncements Hon. CIT (Appeals) erred in confirming addition made under section 68 for loan availed during the year amounting to Rs. 2,83,56,010 from M/s. Sunglow Fininvest Private Limited (NBFC) because the lender had incurred losses during the year. Such addition made is bad in law and liable to be deleted.
On given facts, circumstances and judicial pronouncements Hon. CIT (Appeals) erred in confirming addition made under section 68 for interest on entire loan credited to the account of M/s. Sunglow Fininvest Private Limited (NBFC) during the year amounting to Rs. 1,99,67,364. Such addition of Interest is bad in law and liable to be deleted.
Without prejudice to the above, On given facts, circumstances and judicial pronouncements Hon. CIT (Appeals) erred in confirming addition made under section 68 for interest on entire loan credited to the account of M/s. Sunglow Fininvest Private Limited (NBFC) during the year amounting to Rs. 1,99,67,364. Such addition of Interest on entire loan balance is excessive in facts and is bad in law and liable to be reduced.
When the case was called for hearing before the Bench, the ld.AR of the assessee pleaded for withdrawing the instant appeal. The request was duly considered and is granted by us.
P a g e | 3
A.Y. 2018-19
Endura Soft Solution Private Limited
In the result, the appeal having been withdrawn accordingly is dismissed. Order pronounced in the open court on 24.07.2025. SAKTIJIT DEY PRABHASH SHANKAR (उपाध्यक्ष/ VICE PRESIDENT) (लेखाकार सदस्य/ACCOUNTANT MEMBER)
Place: म ुंबई/Mumbai
ददनाुंक /Date 24.07.2025
Lubhna Shaikh / Steno
आदेश की प्रतितलति अग्रेतिि/Copy of the Order forwarded to :
1. अपीलार्थी / The Appellant
2. प्रत्यर्थी / The Respondent.
3. आयकर आयुक्त / CIT
4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT,
Mumbai
5. गार्ड फाईल / Guard file.
सत्यावपि प्रवि ////
आदेशानुसार/ BY ORDER,
उि/सहायक िंजीकार (Dy./Asstt.