ASSAM VALLEY FINANCE AND INVESTMENT PVT LTD,GUWAHATI vs. D.C.I.T., CIRCLE 1, GUWAHATI
In the result, the appeal of the assessee is allowed
ITA 75/GTY/2025[2016-17]Status: DisposedITAT Guwahati18 Dec 2025AY 2016-17
Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm Assam Valley Finance & Dcit, Circle 1 Investment Pvt. Ltd. Aayakar Bhawan, Christian Basti, House No.1, Niligiri Path, G.S Road, Guwahati-781005, Vs. Zoo Road, Guwahati-781024 Assam (Appellant) (Respondent) Pan No. Aabca6974B Assessee By : Shri Miraj D Shah, Ar Revenue By : Shri Santosh Kumar Karnani, Dr Date Of Hearing: 12.11.2025 Date Of Pronouncement: 18.12.2025 O R D E R Per Rajesh Kumar, Am:
For Appellant: Shri Miraj D Shah, ARFor Respondent: Shri Santosh Kumar Karnani
Section 142(1)Section 143(2)Section 144BSection 147Section 148Section 151Section 151ASection 68
unexplained cash credit u/s 68 of the Act. The addition on this count also cannot be sustained. We therefore, inclined to quash the assessment framed by NFAC, Delhi on the ground of lack of jurisdiction. The ground nos.12 and 13 are allowed.
2.6. So far as the re-opening of assessment is concerned, we observe that the same is made