GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

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ITA 117/GTY/2024Status: DisposedITAT Guwahati29 May 2025AY 2020-21Bench: SHRI MANOMOHAN DAS (Judicial Member), SHRI RAKESH MISHRA (Accountant Member)34 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal decided that additions made under Section 153C without incriminating material were to be deleted. Certain disallowances under Section 40A(3) and issues regarding capital expenditure and depreciation were remanded to the AO for verification. One ground regarding sundry subscription was allowed as not pressed.

What were the facts?

The assessee, Greenwood Resorts Private Limited, filed multiple appeals against orders of the CIT(A) concerning assessment years 2014-15 to 2021-22. The appeals involved additions made by the AO under various sections, including Section 68 and Section 40A(3) of the Income Tax Act, and disallowances of interest and depreciation.

What were the issues?

The key issues were whether additions under Section 153C were justified without incriminating material, and the validity of disallowances under Section 40A(3) and other grounds related to capital expenditure, depreciation, and interest on unsecured loans.

Which sections of the Income-tax Act were involved?

Section 68,Section 40A(3),Section 153C,Section 143(3),Section 37(1),Section 36

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Income Tax Appellate Tribunal, GUWAHATI BENCH AT KOLKATA

Before: SHRI MANOMOHAN DAS & SHRI RAKESH MISHRA

order : 29-May-2025 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: All these appeals filed by the assessee are against the separate orders of the Ld. Commissioner of Income Tax, Central NER, Guwahati [hereinafter referred to as “the Ld. CIT(A)”] passed u/s 250 of the Income 5 The Appellant craves the leave to take Additional Grounds and/or amend the above grounds of appeal at the time of hearing of Appeal.” vi.

A.Y. 2018-19: 1 For that assessment order passed u/s 153C/143(3) is bad in law and liable to be quashed as no proper satisfaction has been recorded as required under the provision of I T Act. 2 For that additions made by the A.O. and upheld by the CIT (A) are bad in law as no incriminating materials has been found 3 For that the learned A.O. is not justified in disallowing interest of Rs.22,95,000/- on unsecured loan. 4 For that the learned A.O. is not justified in making addition of Rs. 1,01,25,690/- on account of suppression of sales. 5 The Appellant craves the leave to take Additional Grounds and or amend the above grounds of appeal at the time of hearing of Appeal.” vii. A.Y. 2019-20: “1 For that assessment order passed u/s 153C 143(3) is bad in law and liable to be quashed as no proper satisfaction has been recorded as required under the provision of I.T. Act.

2. For that additions made by the A.O. and upheld by the CIT (A) are bad in law as no incriminating materials has been found.

3. For that the learned A.O is not justified in disallowing interest of Rs.40.27,500 - on unsecured loan.

4. For that the learned A.O. is not justified in making addition of Rs.3.20.17,555/- on account of suppression of sales.

5. The Appellant craves the leave to take Additional Grounds and/or amend the above grounds of appeal at the time of hearing of Appeal.” viii.

A.Y. 2020-21: “1 For that assessment order passed u/s 153C/143(3) is bad in law and liable to be quashed as no proper satisfaction has been recorded as required under the provision of I.T. Act. 2 For that additions made by the A.O. and upheld by the CIT (A) are bad in law as no incriminating materials has been found.

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