INCOME-TAX OFFICER WARD-3(3)(1),AHMEDABAD, AHMEDABAD vs. FURNISH HOME, AHMEDABAD
The appeal of the asessee is allowed, whereas, Revenue’s appeal is dismissed
ITA 1671/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad30 Jan 2026AY 2017-18
Bench: the Ld. CIT(A), wherein detailed submissions supported by the books of accounts, statutory returns, confirmation and other documentary evidences were filed. A remand report of the AO was sought on the same by the Ld. CIT(A) after considering which, Ld. CIT(A) deleted
For Appellant: Revenue byFor Respondent: Shri Arvind Kumbhare, Sr. DR
Section 250Section 68Section 69
Section 68: identity of the person, genuineness of the transaction, and creditworthiness of the creditor.
The capital contribution by partners is a routine business feature and stands explained through PAN, ITRs, and bank statements.
Judicial precedents consistently hold that once the partners are identified and they confirm the transaction in their own tax filings, the firm cannot be penalized
