ACIT, CIRCLE-26(1), NEW DELHI vs. VALUE FIRST DIGITAL MEDIA PVT. LTD.,, NEW DELHI

In the result, ITA No. 3143/Del/2019 [A

Bench: Shri Narender Kumar Choudhry & Dr. B.R.R. Kumar

carry forward of losses and depreciation as claimed in its revised return of income. In the result, GROUND Nos. 1 to 3 are allowed for statistical purposes. 10. Coming to GROUND no. 4 which pertains to deletion of the disallowance of Rs. 8,31,45,470/- made by the AO u/s 40(a)(i) of the Income

GOLDFIELD SALES AGENCIES LTD.,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 2, FARIDABAD

In the result, the appeal being ITA No

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

purchases are taken place among the group companies only. The Assessing Officer observed that assessee has incurred freight charges at Rs.1,08,44,872/- during the year. When the assessee was asked to produce bills and vouchers of these expenses but it failed to produce the same. Accordingly, in absence of actual business activities, he observed that these expenses cannot

GOLDFIELD SALES AGENCIES LTD.,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 2, FARIDABAD

In the result, the appeal being ITA No

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

purchases are taken place among the group companies only. The Assessing Officer observed that assessee has incurred freight charges at Rs.1,08,44,872/- during the year. When the assessee was asked to produce bills and vouchers of these expenses but it failed to produce the same. Accordingly, in absence of actual business activities, he observed that these expenses cannot

GOLDFIELD SALES AGENCIES LTD.,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 2, FARIDABAD

In the result, the appeal being ITA No

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

purchases are taken place among the group companies only. The Assessing Officer observed that assessee has incurred freight charges at Rs.1,08,44,872/- during the year. When the assessee was asked to produce bills and vouchers of these expenses but it failed to produce the same. Accordingly, in absence of actual business activities, he observed that these expenses cannot

GOLDFIELD SALES AGENCIES LTD.,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 2, FARIDABAD

In the result, the appeal being ITA No

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

purchases are taken place among the group companies only. The Assessing Officer observed that assessee has incurred freight charges at Rs.1,08,44,872/- during the year. When the assessee was asked to produce bills and vouchers of these expenses but it failed to produce the same. Accordingly, in absence of actual business activities, he observed that these expenses cannot

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

forwarded said information to all concerned charged including Ward 52(3), Delhi. Lists of all such beneficiaries who had obtained bogus accommodation entries from these concerns have also been received by this office. The name of the assessee is also mentioned in the list of beneficiaries who have obtained bogus acconmodation entries from these concerns. The details of entries obtained

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

forwarded said information to all concerned charged including Ward 52(3), Delhi. Lists of all such beneficiaries who had obtained bogus accommodation entries from these concerns have also been received by this office. The name of the assessee is also mentioned in the list of beneficiaries who have obtained bogus acconmodation entries from these concerns. The details of entries obtained

DCIT, CIRCLE- 1(2), NEW DELHI vs. ADVENTURE RESORTS AND CRUISES PVT. LTD., NEW DELHI

In the result, the revenue’s appeal as well Assessee’s cross objection both are dismissed in the aforesaid manner

Bench: Shri Mahavir Singh & Shri Brajesh Kumar Singhdcit, Circle 1(2), Vs.Adventure Resorts Room No. 368, C.R. Building & Cruises Pvt. Ltd. I.P. Estate, New Delhi 611, Surya Kiran Building, Kg Marg, Connaught Place, New Delhi – 110 001 (Pan:Aaacf6111G) (Appellant) (Respondent) C.O. No.198/Del/2022 (Asstt. Year : 2014-15) Adventure Resorts Vs. Dcit, Circle 1(2) & Cruises Pvt. Ltd. New Delhi 611, Surya Kiran Building, Kg Marg, Connaught Place, New Delhi – 110 001 (Pan: Aaacf6111G) (Appellant) (Respondent Appellant By : None Respondent By :Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing 22.09.2025 Date Of Pronouncement 30.09.2025

carry forward loss from earlier year, which was allowed to be brought forward by the department amounting to Rs. 8,77,05,553/- and out of this, after declaring profit of Rs. 84,80,760/- from trading in textile industry and receipts from Cruise business at Rs. 6,15,07,898/- balance remains the loss. The entire

SACHIN KANODIA,NEW DELHI vs. ITO WARD - 42(2), NEW DELHI

Appeal are dismissed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

carried out by the Directorate of Investigation, has been thoroughly analysed by the Assessing Officer to prove that the assessee has introduced bogus long term capital gains in her books of account by routing her unaccounted income through a tax evasion scheme. The statement of brokers engaged in providing bogus long term capital gains clearly proves that Kappac Pharma

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT CENTRAL CIRCLE-05, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

VESTIGE MARKETING PVT. LTD.,DELHI vs. DCIT, CENTRAL CIRCLE- 05, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

VESTIGE MARKETING PVT LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 05, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances

ROSE SERVICED APARTMENTS (INDIA) PVT. LTD,NEW DELHI vs. ACIT, CIRCLE-21(2), NEW DELHI

In the result, the appeal of assessee is partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

carried forward. The case was picked up for scrutiny, wherein the Assessing Officer (AO) had held that the short-term capital loss from sale of share of Jolly Plastic Industries Ltd. was not genuine. Hence, he disallowed the said loss. Further, the AO added back commission of Rs.16,21,835/- as unexplained expenditure incurred thereon for the said non-genuine

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

purchased goods from Shree Laxmi\nIndustrial Corporation were borne out. The Income-tax\nAppellate Tribunal also noted-and we agree with that\napproach entirely-that the income-tax authorities had not\neven rejected the books of the assessee even while finding\nthe claim as genuine transaction to be bogus.\n3.\nHaving regard to the conspectus of the\ncircumstances