DEPUTY COMMISSIONER OF INCOME TAX, CC-1, LUDHIANA, LUDHIANA vs. SHREE GANESH EDIBLES PVT. LTD., KHANNA

ITA 308/CHANDI/2025Status: DisposedITAT Chandigarh24 February 2026AY 2022-23Bench: SHRI RAJPAL YADAV (Vice President), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)12 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, finding that the assessee had discharged its onus under Section 68 by providing sufficient documentation. The revenue failed to present concrete material to controvert these findings, leading the Tribunal to dismiss the appeal.

What were the facts?

The revenue appealed against the deletion of additions made by the Assessing Officer (AO) concerning unexplained credit and interest payments. The AO had made additions based on seized data suggesting accommodation entries from certain companies, which the CIT(A) deleted after the assessee provided documentation proving the identity, genuineness, and creditworthiness of the lenders.

What were the issues?

Whether the CIT(A) was justified in deleting the addition of unexplained credit and interest payments when the assessee had provided evidence of identity, genuineness, and creditworthiness of the lenders.

Which sections of the Income-tax Act were involved?

Section 68,Section 37(1)

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Income Tax Appellate Tribunal, “B” BENCH, CHANDIGARH

Before: HON’BLE SHRI RAJPAL YADAV & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

Hearing: 11.02.2026Pronounced: 24.02.2026

Heard together (2 matters)

ITA No.307/CHANDI/2025
ITA No.308/CHANDI/2025

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Manoj Kumar Aggarwal (Accountant Member)

1.

The revenue has preferred further appeals for Assessment Years (AY) 2019-20 & 2022-23. First, we take up appeal for AY 2019- 20 which arises out of an order of learned Commissioner of Income Tax (Appeals)-5, Ludhiana [CIT(A)] dated 14-12-202

The order continues below.

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