ITA No.2681/Del/2025 Triveni Impex Pvt. Ltd. (AY: 2017-18)

Parties Involved

Facts Summary

The assessee, Triveni Impex Pvt. Ltd., is a private limited company engaged in the business of trading and export of dry fruits, spices, and other exotic kirana goods from Khari Baoli Area of Delhi. During the assessment year 2017-18, the Assessing Officer (AO) scrutinized the assessee’s return of income and found certain receipts amounting to Rs. 5,49,00,000/- from Balaji Enterprises and Maruti Enterprises to be accommodation entries. The AO sought various documents to verify the genuineness of these receipts but was not satisfied with the assessee’s response. Consequently, the AO added Rs. 5,49,00,000/- as an accommodation entry and Rs. 37,00,000/- as unaccounted cash credits under section 68 of the Income Tax Act, 1961. The First Appellate Authority (CIT(A)) deleted these additions, leading the Revenue to appeal before the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the CIT(A) erred in deleting the addition of Rs. 5,49,00,000/- on account of unsecured loan u/s 68 of the Income Tax Act, 1961.
• 2. Whether the CIT(A) erred in deleting the addition of Rs. 37,00,000/- on account of unexplained cash deposit u/s 68 of the Act.
• 3. Whether the CIT(A) erred in admitting additional evidence in violation of Rule 46A of the Income Tax Rules.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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