ACIT, CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD vs. AL-ARSH EXPORTS PVT. LTD, NEW DELHI

ITA 227/DEL/2024Status: DisposedITAT Delhi14 January 2026AY 2014-15Bench: SHRI ANUBHAV SHARMA (Judicial Member), SHRI AMITABH SHUKLA (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the CIT(A) had correctly deleted the addition, as the assessee had provided sufficient evidence to satisfy the conditions of Section 68. The AO had failed to rebut the evidence provided by the assessee and had not conducted independent inquiries.

What were the facts?

The Revenue appealed the deletion of an addition of Rs. 15,00,00,000/- made by the Assessing Officer (AO) under Section 68 of the Income Tax Act, 1961, for unexplained share application money. The assessee had provided details regarding the identity, creditworthiness, and genuineness of the investors.

What were the issues?

Whether the addition made by the AO on account of unexplained share application money was justified, given the evidence provided by the assessee regarding identity, creditworthiness, and genuineness of the transactions.

Which sections of the Income-tax Act were involved?

Section 68,Section 147,Section 133(6),Section 143(3),Section 148,Section 139(1),Section 120(4)(b),Section 2(7A),Section 131

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH, ‘C’: NEW DELHI

Before: SHRI ANUBHAV SHARMA&

For Appellant: Shri Swaran Singh, CA &, Shri Vipan Kundra, CA
For Respondent: Shri Mukesh Kumar Jha, CIT(DR), Shri Swaran Singh, CA &, Shri Vipan Kundra, CA
Hearing: 15.12.2025Pronounced: 14.01.2026

PER AMITABH SHUKLA, AM,

The captioned appeal has been preferred by the Revenue against order dated 20.11.2023 of the Commissioner of Income Tax (Appeals)-3, CO No.14/Del/2024 Noida, [hereinafter referred to as ‘ld. CIT(A)’] arising out of assessment order dated 12.12.2018 passed u/s 143(3) r.w.s. 147 of the Income Tax Ac

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 →