Assistant Commissioner of Income Tax vs. Bans Aerosol P. Ltd.
Case No: ITA No.7127/DEL/2025 (A.Y.2018-19)
Court: Income Tax Appellate Tribunal, Delhi Bench
Date: 1/2/2026
Parties Involved
appellantAssistant Commissioner of Income Tax
respondentBans Aerosol P. Ltd.
Facts Summary
The assessee company, Bans Aerosol P. Ltd., is engaged in the manufacture and supply of industrial chemicals and aerosol products. For the Assessment Year 2018-19, the assessee declared a total income of Rs.5,98,640/-. The Assessing Officer received information alleging that the assessee had obtained a bogus entry of an unsecured loan of Rs.12,10,956/- from M/s Sirsa Deposits and Advances Pvt. Ltd. Consequently, proceedings under section 148A of the Income Tax Act, 1961 were initiated. The asses…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the unsecured loan of Rs.15,00,000/- obtained by the assessee from M/s Sirsa Deposits and Advances Pvt. Ltd. is genuine or an accommodation entry.