Addl. CIT v. Gurshant Rotary Compressor Ltd.

ZIA RATHI,DELHI vs. INCOME TAX OFFICER WARD-44(3), DELHI

In the result, appeal filed by the assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwalmrs. Zia Rathi, Income Tax Officer, 274, Dda Flats, Sector-1A, Ward-44(3), Dwarka Nasirpur, Vs. Delhi. New Delhi-110045. Pan-Bsvpr9218M (Appellant) (Respondent) Assessee By Dr. Rakesh Gupta, Adv. Shri Somil Agarwal, Adv. Shri Saksham Agarwal, Ca & Shri Deepesh Garg, Adv. Department By Ms. Ankush Kalra, Sr. Dr Date Of Hearing 04/11/2025 Date Of Pronouncement 16/01/2026 O R D E R Per Manish Agarwal, Am: This Appeal Is Filed By The Assessee Against The Order Of Learned Commissioner Of Income Tax, National Faceless Appeal Centre (Nfac), Delhi (‘Ld. Cit(A)’ In Short) Dated 27.02.2024 In Appeal No. Cit(A), Delhi- 15/11146/2019-20 Arising Out Of The Order Passed U/S 143(3) Of The Income Tax Act, 1961 (‘The Act’ For Short) For Assessment Year 2017-18. 2. Brief Facts Of The Case Are That Assessee Is Sole Proprietor Of M/S Veezee Traders Engaged In The Business Of Trading Of Pvc Coated Imported Fabric. The Zia Rathi Vs. Ito

…03.2017 showing the same. Therefore, reliance is placed on the following judicial precedents, wherein it has been held that no additions can be made of sales already disclosed and offered to tax by the assessee:- -Addl. CIT vs. Gurshant Rotary Compressor Ltd. 15 DTR 429(Del 'C')(TM) Zia Rathi vs. ITO Income Cash credit----Alleged sale consideration of goods---Amount of alleged sale consideration of books though not established by assessee to be genuine, same having been credited to the P&L a/c by assessee, it was neither required to be added nor deleted. -Eland International (P) Ltd. vs. Dy. CIT 26 DTR 113(Del.…

ASSISSTANT COMMISSIONER OF INCOME TAX, GHAZIABAD vs. ARUN KUMAR, GHAZIABAD

In the result the appeal of the Revenue is dismissed and the cross objection of the Assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwal & C.O 118/Del/2025 Assessment Year: 2014-15 Assistant Commissioner Of Vs. Arun Kumar Income Tax 201-202, 2Nd Ii-F-3 Nehru Nagar Ghaziabad Floor Cgo Complex 201001 Uttar Pradesh Hapur Chungi Ghaziabad -201002 Pan No. Aeapk1314B (Appellant) (Respondent) Appellant By Ms. Ankush Kalra, Sr.Dr Respondent By Dr. Rakesh Gupta, Adv Shri Somil Agarwal Adv

…come Tax v. Arun Kumar Capital Gain on the sale of the shares has been duly offered to tax by the assessee, the addition was rightly deleted by the Ld.CIT(A). Reliance has placed on the followings decisions: (i) Addl. CIT vs. Gurshant Rotary Compressor Ltd. . 15 DTR 429(DEL’C) (TM ) (ii) Eland International (P) Ltd. Vs. Dy.CIT, 26,DTR 113 (Del.’C’) (iii) CIT v. Vishal Exports Overseas Limited, Tax Appeal No. 2471 of 2009 Gujarat High Court. 7.The Ld.CIT(A), partly allowing the appeal held that: xiv. The appellant assessee has contended vide its grounds no.7 & 7 that…… Ld. Assessing Officer erred on the facts and…

GOLD SPICE IMPEX,DELHI vs. INCOME TAX OFFICER, WARD-47(2), DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumarm/S. Gold Spice Impex, Vs. Ito, Ward 47 (2), 1879, Kucha Chelian, Khari Boali, Delhi. Delhi – 110 006. (Pan : Aapfg0688P) (Appellant) (Respondent) Assessee By :Shri Rakesh Gupta, Advocate Shri Deepesh Garg, Advocate Revenue By : Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing : 26.08.2025 Date Of Order : 21.11.2025 O R D E R Per S. Rifaur Rahman: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [“Ld. Cit(A)”, For Short] Dated 17.01.2024 For The Assessment Year 2017-18 Raising Following Grounds Of Appeal :- “1. That Having Regard To The Facts & Circumstances Of The Case, Ld. Cit(A) Has Erred In Law & On Facts In Confirming The Action Of Ld. Ao In Making Aggregate Addition Of Rs.1,15,00,000/- On Account Of Cash Deposits U/S 68 & Taxing The Same U/S 115Bbe & That Too By Recording Incorrect Facts & Findings & Without Following The Principles Of Natural Justice.

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES ‘B’: NEW DELHI. BEFORE SHRIS.RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER M/s. Gold Spice Impex, vs. ITO, Ward 47 (2), 1879, Kucha Chelian, Khari Boali, Delhi. Delhi – 110 006. (PAN : AAPFG0688P) (APPELLANT) (RESPONDENT) ASSESSEE BY :Shri Rakesh Gupta, Advocate Shri Deepesh Garg, Advocate REVENUE BY : Shri Rajesh Kumar Dhanesta, Sr. DR Date of Hearing : 26.08.2025 Date of Order : 21.11.2025 O R D E R PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : 1. The assessee has filed appeal against the order of the Learned Commissioner of Income-tax (A…

STANDARD TELE TOWERS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE-24(2), NEW DELHI

Bench: Sh. N.K.Billaiya & Sh.Anubhav Sharma

…ed. 7.2 Further reliance is placed on the following judicial decisions for the proposition that no addition/disallowance could be made in respect of an amount already stands credited in Profit and loss account: • Addl. CIT vs. Gurshant Rotary Compressor Ltd. 15 DTR 429(Del’C’)(TM) • Eland International (P) Ltd. vs. Dy. CIT 26 DTR 113(Del.’C’) • CIT v. Vishal Exports Overseas Limited (Gujarat High Court) Tax Appeal No. 2471 of 2009 7.3 Without prejudice to the above, Ld. Counel has submitted that even if, the said disallowance of expenditure of Rs. 5,81,02,040/- is to be made, then consequently the said amount i…