NISHANK GUPTA,NEW DELHI vs. ITO, WARD- 32(5), NEW DELHI
In the result, all the 03 appeals of the assessees are partly allowed
ITA 8244/DEL/2018[2015-16]Status: DisposedITAT Delhi05 Mar 2019AY 2015-16
Bench: Shri H.S. Sidhuay: 2014-15 Aashna Capital Services (P) Vs. Ito, Ward 1(2), Ltd., New Delhi C/O Kapil Goel, Advocate, F-26/124, Sector-7, Rohini, Delhi (Pan: Aahca2030J) (Appellant) (Respondent) Ay: 2015-16 Nishank Gupta, Vs. Ito, Ward 32(5), C/O Kapil Goel, Advocate, New Delhi F-26/124, Sector-7, Rohini, Delhi (Pan: Aaepg2238E) (Appellant) (Respondent) Ay: 2015-16 Prity Gupta, Vs. Ito, Ward 32(5), C/O Kapil Goel, Advocate, New Delhi F-26/124, Sector-7, Rohini, Delhi (Pan: Ahepg6510C) (Appellant) (Respondent) Assessee By : Sh. Kapil Goel, Adv. Revenue By : Sh. S.L. Anuragi, Sr. Dr.
For Appellant: Sh. Kapil Goel, AdvFor Respondent: Sh. S.L. Anuragi, Sr. DR
Section 1Section 10(38)Section 139Section 143(2)Section 68Section 69C
u/s 68 which discretion has not been judiciously exercised in facts of present case as assessee has no economic capacity and source to generate given amount of unaccounted income. Fourthly law requires that additions under said deeming fiction cannot be made sans incriminating material brought on record which is completely lacking in present case.
13. That in any case
