NAMAH SHIVAYA TRADING PVT LTD,DELHI vs. ITO, DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’ NEW DELHI
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2010-11
PER SATBEER SINGH GODARA, J.M:
This assessee’s appeal for assessment year 2010-11 arises against National
Faceless Appeal Centre (NFAC) Delhi’s’ order dated 21.07.2025 [DIN & Order
No. ITBA/NFAC/S/250/2025-26/1078715193(1)] in proceedings u/s 147 r.w.s.
143(3) of the Income-tax Act, 1961, hereinafter referred to as the ‘Act’.
Heard both the parties. Case file perused.
2. Suffice to say, it emerges during the course of hearing that both the learned lower authorities have made section 68 unexplained cash credit addition in the assessee’s hands to the tune of Rs. 45 lakhs allegedly received from M/s Sunny
Cast & Forge Ltd., Attractive Finlease Pvt. Ltd. and Shalini Holdings Ltd.
involving share application premium money of Rs. 25 lakhs, Rs. 10 lakhs each, respectively.
2
3. There is no dispute between the parties that learned lower authorities have proceeded against the assessee in furtherance to a search action on M/s S.K. Jain group. The assessee has invited the tribunal’s attention to the respective assessment orders passed u/s 153C of the Act, all dated 28.03.2013 in the above three entities’
cases not assessing them either u/s 68 or 69, as the case may be, which leads to the conclusion that they could not have been held as accommodation entry providers and the assessee being beneficiary thereof; as the case may be, for the purpose of making the impugned addition. The same is directed to be deleted, therefore.
4. This assessee’s appeal ITA No. 4573/Del/2025 is allowed.
Order pronounced in open court on 28.08.2025. (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 28.08.2025. *MP*