“cash credit addition”

SHRING CONSTRUCTION COMPANY PVT. LTD.,DEHRADUN vs. DCIT, CIRCLE-2, MUZAFFARNAGAR

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandraita No. 5226/Del/2016 : Asstt. Year: 2012-13 Ita No. 7057/Del/2018 : Asstt. Year: 2012-13 M/S Shring Construction Company Pvt. Vs Acit/Dcit, Ltd., D-245, Nehru Colony, Haridwar Circle-2, Road, Dehradun Muzaffarnagar (Appellant) (Respondent) Pan No. Aabcr4560L Assessee By : Sh. Ankit Gupta, Adv. Revenue By : Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 11.02.2026 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeals Ita Nos. 5226/Del/2016 &

substantive grounds to this effect are hereby accepted for statistical purposes. 5. Next comes the latter issue of section 68 unexplained cash credit addition of Rs.24,00,000/- made in the assessee’s hands. Learned counsel could hardly dispute that it had not satisfied the clinching test(s) of genuineness ... necessary. 7. So far as the correctness of the impugned section 271(1)(c) penalty regarding the assessee’s section 68 unexplained cash credits addition is concerned, the Revenue vehemently argues that this is a clear cut instance of concealment or furnishing of inaccurate particulars of income attracting the penal

M/S SHRING CONSTRUCTION CO. PVT. LTD.,,DEHRADUN vs. ACIT, MUZAFFARNAGAR

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandraita No. 5226/Del/2016 : Asstt. Year: 2012-13 Ita No. 7057/Del/2018 : Asstt. Year: 2012-13 M/S Shring Construction Company Pvt. Vs Acit/Dcit, Ltd., D-245, Nehru Colony, Haridwar Circle-2, Road, Dehradun Muzaffarnagar (Appellant) (Respondent) Pan No. Aabcr4560L Assessee By : Sh. Ankit Gupta, Adv. Revenue By : Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 11.02.2026 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeals Ita Nos. 5226/Del/2016 &

substantive grounds to this effect are hereby accepted for statistical purposes. 5. Next comes the latter issue of section 68 unexplained cash credit addition of Rs.24,00,000/- made in the assessee’s hands. Learned counsel could hardly dispute that it had not satisfied the clinching test(s) of genuineness ... necessary. 7. So far as the correctness of the impugned section 271(1)(c) penalty regarding the assessee’s section 68 unexplained cash credits addition is concerned, the Revenue vehemently argues that this is a clear cut instance of concealment or furnishing of inaccurate particulars of income attracting the penal

SUMAN LATA LAMBA,HARYANA vs. ITO WARD 4, HISAR

Appeal is partly allowed

Bench: Sh. Satbeer Singh Godaraita No. 8319/Del/2025 : Asstt. Year: 2017-18 Suman Lata Lamba, Vs Income Tax Officer, House No. 248, Sector-15, Ward-4, Hisar, Haryana-125001 Hisar, Haryana-125001 (Appellant) (Respondent) Pan No. Abwpl7770R Assessee By: Sh. V. Rajkumar, Adv. Revenue By : Sh. Manoj Kumar, Sr. Dr Date Of Hearing: 20.01.2026 Date Of Pronouncement: 20.01.2026 Order This Assessee’S Appeal For Assessment Year 2017-18 Arises Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2025-26/1081856424(1) Dated 17.10.2025, In Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short “The Act”).

noticed at the outset with the able assistance coming from both the parties that the learned lower authorities have made section 68 unexplained cash credit addition of Rs.34,37,889/- in the assessee’s hands which represents her cash deposits during demonetization, in assessment order dated 31.12.2019 as upheld

DY. COMMISSIONER OF INCOME TAX, NOIDA vs. M/S RUDRA BUILDWELL HOMES PVT. LTD, DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2016-17 Vs. M/S. Rudra Buildwell Homes Dcit, Central Circle-I, Noida Pvt. Ltd., 53, Okhla Phase, Delhi Pan: Aafcr6959P (Appellant) (Respondent) With C.O. No.106/Del/2025 [Arising Out Of Ita No.602/Del/2025] Assessment Year: 2016-17 M/S. Rudra Buildwell Vs. Dcit, Central Circle-I, Homes Pvt. Ltd., Noida A-66, Sector-63, Noida Pan: Aafcr6959P (Appellant) (Respondent) Assessee By Sh. Rohit Kapoor, Adv. Sh. Veersen Agarwal, Itp Department By Sh. Rajesh Chandra, Cit(Dr) Date Of Hearing 12.08.2025 Date Of Pronouncement 29.08.2025 Order Per Satbeer Singh Godara, Jm This Revenue’S Appeal Ita No.602/Del/2025 & Assessee’S Cross Objection C.O. No. 106/Del/2025 For Assessment Year 2016-

rival submissions. We are of the considered view that the learned CIT(A)’s foregoing detailed findings deleting the impugned section 68 unexplained cash credit addition warrant no interference on our part. Suffice to say, the assessee had admittedly received a sum of Rs.12.08 crores on 28.03.2016 coming from ... high court’s decision in Tax Appeal No.1180 of 2018 PCIT Vs. Gyscoal Alloys Ltd., dated 1st October, 2018 that section 68 unexplained cash credits addition in an instance involving group entities and directors etc. assessed in the same jurisdiction who satisfy the corresponding three limbs of identity, genuineness

NAMAH SHIVAYA TRADING PVT LTD,DELHI vs. ITO, DELHI

Bench: Shri Satbeer Singh Godaraassessment Year: 2010-11

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

SUDARSAN DE,NEW DELHI vs. DCIT, CIRCLE- 2(1)(1), GHAZIABAD

In the result, the appeal of the assessee is allowed

claimed the money was from his wife's income from singing classes, supported by an affidavit.", "held": "The Tribunal held that the unexplained cash credit addition was not sustainable. The affidavit from the wife, which was not controverted by the AO, sufficiently explained the source of the deposits

DCIT, DELHI vs. SHALIMAR CORP. LIMITED, MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE-30, , NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

DCIT, CENTRAL CIRCLE-30, NEW DELHI vs. SHALIMAR CORP. LTD., MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

DCIT, CENTRAL CIRCLE-30, NEW DELHI vs. SHALIMAR CORP. LTD., MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LTD,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT,CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT CENTER CIRCLE-30, DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

assessee preferred its appeal before the learned CIT(A) which stands partly accepted to the extent that the above section 68 unexplained cash credit addition of Rs.2,90,00,000/- has been deleted and all other assessment findings have been confirmed. It is in this factual backdrop that both ... reverse both the learned lower authorities’ action hereinabove in entirety as against the department’s sole substantive grievance seeking to revive the unexplained cash credit addition of Rs.2,90,00,000/-; respectively. 6. We have given our thoughtful consideration to the assessee’s and the department’s vehement submissions reiterating

ITO, WARD-1(1), FARIDABAD, FARIDABAD vs. CHAMAN, FARIDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2017-18 Vs. Chaman, Income Tax Officer, Ward-1(1), H. No. 437, Sector-9, Faridabad Faridabad Pan: Bfapd6698P (Appellant) (Respondent) With C.O. No.103/Del/2024 [Arising Out Of Ita No.2774/Del/2024] Assessment Year: 2017-18 Vs. Income Tax Officer, Chaman, H. No. 437, Sector-9, Ward-1(1), Faridabad, Haryana Faridabad Pan: Bfapd6698P (Appellant) (Respondent) Assessee By Sh. Gaurav, Adv. Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 25.06.2025 Date Of Pronouncement 25.06.2025 Order Per Satbeer Singh Godara, Jm This Revenue’S Appeal Ita No. 2774/Del/2024 & Assessee’S Cross Objection C.O. No. 103/Del/2024 For Assessment Year 2017- 18, Arises Against The Commissioner Of Income Tax (Appeals)/National Faceless Appeal Centre [In Short, The

Revenue’s instant former twin substantive grounds stand rejected therefore. 7. Next comes the latter issues between the parties regarding correctness of unexplained cash credit addition of Rs.9,53,608/-. The department could hardly dispute that the learned CIT(A)’s corresponding above extracted detailed discussion which has already considered

DCIT, CR BUILDING vs. GULSHAN POLYOLS LIMITED, LAXMI NAGAR

Appeal is dismissed

Bench: Shri Satbeer Singh Godara\Nand\Nshri Manish Agarwal\N\Nita No.5549/Del/2024\N Assessment Year: 2015-16\Nvs. M/S. Gulshan Polyols Limited,\Ng-81, Preet Vihar, Anand Vihar\Ns.O. Laxmi Nagar, East Delhi\Npan: Aabcg3954F\N(Appellant)\N(Respondent)\Nwith\Nc.O. No. 46/Del/2025\N[Arising Out Ita No.5549/Del/2024]\N Assessment Year: 2015-16\Nm/S. Gulshan Polyols Vs. Dcit (Osd),\Nlimited,\Nrange-10,\Ng-81, Preet Vihar, Anand New Delhi\Nvihar S.O. Laxmi Nagar,\Neast Delhi\Npan: Aabcg3954F\N(Appellant)\N(Respondent)\Nassessee By\Nsh. Mohd. Shahid, Ca\Ndepartment By\Nsh. Rajesh Kumar Dhanesta, Sr. Dr\Ndate Of Hearing\N28.05.2025\Ndate Of Pronouncement\N28.05.2025\Norder\Nper Satbeer Singh Godara, Jm\Nthis Revenue'S Appeal (Ita No.5549/Del/2024) And\Nassessee'S Cross Objection (C.O. No. 46/Del/2025) For Assessment\Nyear 2015-16, Arises Against The Commissioner Of Income Tax\N(Appeals)/National Faceless Appeal Centre [In Short, The\N\"Cit(A)/Nfac"], Delhi'S Din & Order No.\Nitba/Nfac/S/250/2024-25/1068966016(1), Dated 23.09.2024\Ninvolving Proceedings Under Section 147 R.W.S.144 Of The Income-\Ntax Act, 1961 (Hereinafter Referred To As 'The Act').\N2. Heard Both The Parties. Case Files Perused.\N3. Coming To The Revenue'S Sole Substantive Ground Seeking To\Nrevive Section 68 Unexplained Cash Credit Addition Of Rs.\N1,17,35,487/- Made By The Assessing Officer In His Assessment\Nframed On 18.05.2023, We Note That The Cit(A) Has Reversed The\Nsame As Under:\N“6.

Heard both the parties. Case files perused.\n3. Coming to the Revenue's sole substantive ground seeking to\nrevive section 68 unexplained cash credit addition of Rs.\n1,17,35,487/- made by the Assessing Officer in his assessment\nframed on 18.05.2023, we note that the CIT(A) has reversed

INCOME TAX OFFICER, DELHI vs. FLORIDA ELECTRICAL INDUSTRIES LTD., DELHI

Appeal is treated as allowed

Bench: Sh. Satbeer Singh Godara & Sh. Manish Agarwalita No. 1740/Del/2024 : Asstt. Year : 2018-19 Income Tax Officer, Vs Florida Electrical Industries Ltd., Ward-9(1), B-147, Mayapuri, Industrial Area- New Delhi-110002 1, New Delhi-110064 (Appellant) (Respondent) Pan No. Aaacf0359C Assessee By : Sh. Prempal Sharma, Ca Revenue By : Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing: 23.04.2025 Date Of Pronouncement: 23.05.2025 Order Per Satbeer Singh Godara: This Revenue’S Appeal For Assessment Year 2018-19, Arises Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2023-24/1060913260(1) Dated 14.02.2024, In Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short “The Act”).

Both the learned representatives next invites our attention to the CIT(A)/NFAC’s lower appellate discussion deleting the impugned section 68 unexplained cash credit addition of Rs.5,49,49,095/- made by the Assessing Officer in his regular assessment dated 14.04.202, reading as under: “5. I have considered ... refers to amounts credited in books of account, remained unexplained then the same needs to be added. Recorded sales are not unexplained cash credits. Addition if any can be made only when the sales shown by assessee are less than the purchases shown by the buyer. E.g. : If the sales