In the result, appeal filed by the Revenue is dismissed
Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.494/Srt/2019 ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) Assistant Commissioner Of Manojj Ganeshlal Bhatia Income-Tax, Circle-1[3], Room B-703, Opera House Building, Vs. 3Rd No.301, Floor, Anavil Nr. Agarsen Bhavan, City Light Business Centre, Adajan-Hazira Road, Surat-395007 Road, Adajan, Surat-395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacpb 9748 E (अपीलाथ" /Assessee) (""थ" /Respondent) िनधा"रती की ओर से /Assessee By : Shri Mehul K.Patel, Advocate राज" की ओर से/Revenue By : Shri Ashok B. Koli, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing : 21/03/2023 घोषणा क" तार"ख/Date Of Pronouncement : 16/06/2023 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year (Ay) 2015-16, Is Directed Against The Order Passed By The Learned Commissioner Of Income-Tax (Appeals)-2, Surat [Ld. Cit(A) For Short] Dated 28.08.2019 Which In Turn Arises Out Of An Assessment Order Passed By Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”] Dated 29.12.2017. 2. Grounds Of Appeal Raised By The Revenue Are As Follows: “1) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs.3,97,77,965/- Made On Account Of Profit From Future & Options Ignoring That Assessee Has Failed To Tender Evidence & Explanation In This Regard? 2) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs.5,60,54,528/- Made On Account Of Unexplained Increase In Capital Holding That The Capital Accumulation Is Fully Explained On The Basis Of Capital In The Itr Of A.Y 2011-12 & Accumulated Income In The Roi For A.Y 2012-13 To A.Y 2014-15 Ignoring That Assessee Has Shown Nil Capital Balance In Itr Filed For A.Y 2014-15?
section 143(3) of the Income Tax Act, 1961 [hereinafter referred to as the “Act”] dated 29.12.2017. 2. Grounds of appeal raised by the Revenue are as follows: “1) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is justified in deleting the addition of Rs.3,97,77,965/- made on account