DCIT, CIRCLE-3, THANE, THANE vs. G NINE MODULAR PRIVATE LIMITED, VASAI

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ITA 994/MUM/2025Status: HeardITAT Mumbai08 April 2025AY 2019-20Bench: 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] अपीलार्थी/ (Appellant) प्रत्यर्थी/ (Respondent) Assessee by: Shri Sanket Deshpute, A/R Revenue by: Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R सुनवाई की तारीख/Date of Hearing घोषणा की तार1 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found that the CIT(A) had already deleted the addition related to the bogus unsecured loan of Rs. 2,50,25,577/- and the interest paid thereon. A Co-ordinate Bench had also dismissed the Revenue's appeal.

What were the facts?

The Revenue preferred an appeal against the CIT(A)'s order allowing the interest payment of Rs. 23,39,220/- to M/s. Aneri Fincap Ltd. The interest was paid on a loan treated as bogus in AY 2017-18.

What were the issues?

Whether the CIT(A) erred in allowing interest paid on a loan treated as bogus, when a similar addition was deleted earlier and confirmed by a coordinate bench.

Which sections of the Income-tax Act were involved?

3.1(h)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & SHRI ANIKESH BANERJEE, HON’BLE

For Appellant: Shri Sanket Deshpute, A/R

Hearing: 08/04/2025Pronounced: 08/04/2025

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