ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. SRKM STEEL (P) LTD, GUWAHATI
In the result, the appeal of the Revenue is dismissed
ITA 168/GTY/2020[2017-18]Status: DisposedITAT Guwahati18 Dec 2025AY 2017-18
Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm Asst. Commissioner Of Income Srkm Steel (P) Ltd. Tax, Circle-1 Lokhra Road Babylon, Post Aayakar Bhawan, G.S. Road, Office-Sawkuchi, Guwahati- Vs. Christian Basti, 781034, Assam Guwahati-781005, Assam (Appellant) (Respondent) Pan No. Aalcs5046E Assessee By : Shri Somnath Ghosh, Ar Revenue By : Shri Santosh Kumar Karnani, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 15.12.2025
For Appellant: Shri Somnath Ghosh, ARFor Respondent: Shri Santosh Kumar Karnani, DR
Section 143(2)Section 68
282 lakhs
2.2. The ld. AO noted that the lender company has no creditworthiness to advance such loans as they have very meagre turnover and no credentials. The ld. AO concluded that the assessee has failed to establish the identity, creditworthiness of the lenders and genuineness of the transactions and added u/s 68 of the Act by treating the same
