ACIT vs. M/s Sparsh Property Private Limited
Case No: ITA No. 5849/DEL/2024 (AY 2016-17)
Court: Income Tax Appellate Tribunal, Delhi Bench ‘G’
Bench: Delhi Bench ‘G’
Date: 2/6/2026
Parties Involved
appellantACIT
respondentM/s Sparsh Property Private Limited
Facts Summary
The assessee, M/s Sparsh Property Private Limited, filed its original return of income for AY 2016-17 declaring a net loss. A search and seizure action was carried out in the case of Filatex Group and related entities, revealing that the assessee had received loans from two entities, M/s ANM Fincap Private Limited and M/s Satsal Finlease Private Limited. The Assessing Officer (AO) treated Rs. 60,00,000/- of the total loan received as cash credits under Section 68 of the Income Tax Act, 1961. The…
Decision in favour of
Assessee
Legal Issues
- 1. Addition of Rs. 60,00,000/- u/s. 68 of the Act
- 2. Disallowance of interest of Rs. 9,14,827/-
1 more legal issue analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.