ACIT vs. Kripton Granito Pvt. Ltd.

Parties Involved

Facts Summary

The appeal filed by the Revenue pertains to the assessment year 2017-18 and is directed against the order passed by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi dated 29.02.2024. The Revenue has raised ground in respect of addition of Rs.69,92,000/- deleted by the ld. CIT(A), which relates to unexplained cash credits in the form of share capital/unsecured loan within the meaning of Section 68 of the Income Tax Act, 1961. The appeal was filed contrary to the Circular issued by the CBDT Circular No. 09/2024 dated 17.09.2024.…

Legal Issues

• 1. Whether the appeal filed by the Department is maintainable under the new monetary limits laid down in the CBDT Circular No.09/2024?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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