DCIT, CIRCLE-3, THANE, THANE vs. G NINE MODULAR PRIVATE LIMITED, VASAI
| आयकर अपीलीय अिधकरण ायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
“G” BENCH, MUMBAI
BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER
&
SHRI ANIKESH BANERJEE, HON’BLE JUDICIAL MEMBER
I.T.A. No. 994/Mum/2025
Assessment Year: 2019-20
DCIT, Circle-3, Thane
Vs
G Nine Modular Private Limited
13, BKT Ind. Park
Sector-II, Gurai Pada
Nr. Varun Industry Waliv
Vasai - 401208
[PAN: AAECG2664B]
अपीलाथ/ (Appellant)
यथ/ (Respondent)
Assessee by :
Shri Sanket Deshpute, A/R
Revenue by :
Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R
सुनवाई की तारीख/Date of Hearing : 08/04/2025
घोषणा की तारीख /Date of Pronouncement: 08/04/2025
आदेश/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
This appeal by the revenue is preferred against the order dt.
29/11/2024 by NFAC, Delhi [hereinafter ‘the CIT(A)’], pertaining to AY 2019-20. 2. The grievance of the revenue reads as under:-
“1. In view of the facts the Ld. CIT(A) erred in allowing the interest of Rs.
23,39,220/- to M/s Aneri Fincap Ltd paid during the year under consideration on account of accommodation entry of bogus unsecured loan of Rs.2,50,25,577/- availed in A.Y.2017-18. 2. On the facts and in circumstances of the case, the case falls under the exceptions clause as per Para 3.1.(h) of CBDT's Circular No.5/2024 dated 15/03/2024. 3. The appellant craves leave to add, amend or alter any ground/grounds, which may be necessary.”
On perusal of the records we find that the addition of Rs. 23,39,220/- has been made on account of interest paid to M/s. Aneri Fincap Ltd., which was treated as bogus unsecured loan in AY 2017-18. I.T.A. No. 6595/Mum/2024 2
On perusal of the decision of the ld. CIT(A), we find that the addition on account of bogus unsecured loans from M/s. Aneri Fincap Ltd.
amounting to Rs. 2,50,25,577/- was deleted by the ld. CIT(A) vide order dated 20/10/2022 and since the alleged bogus unsecured loan was treated as a genuine loan, the ld. CIT(A) deleted the interest paid to M/s. Aneri Fincap Ltd.. The appeal filed by the revenue was dismissed by the Co-ordinate Bench vide its order dated 28/04/2023. On these facts, we do not find any reason to interfere with the findings of the ld.
CIT(A).
4. In the result, appeal by the revenue is dismissed.
Order pronounced in the Court on 8th April, 2025 at Mumbai. (ANIKESH BANERJEE)
ACCOUNTANT MEMBER
Mumbai, Dated 08/04/2025
*SC SrPs
*SC SrPs
*SC SrPs
*SC SrPs
आदेश की ितिलिप अेिषत /Copy of the Order forwarded to :
अपीलाथ / The Appellant 2. थ / The Respondent 3. संबंिधतआयकरआयु! / Concerned Pr. CIT 4. आयकरआयु! ) अपील ( / The CIT(A)- 5. िवभागीय ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 6. गाड% फाई/ Guard file.
आदेशानुसार/ BY ORDER