Baba Global Ltd. Vs DCIT
Case No: ITA No. 602/Del/2024
Court: Income Tax Appellate Tribunal, Delhi Bench ‘A’, New Delhi
Date: 3/19/2025
Parties Involved
appellantBaba Global Ltd.
respondentDCIT, Circle Circle-29, New Delhi-110055
Facts Summary
The case pertains to the assessment year 2018-19. Baba Global Ltd. appealed against the order of CIT(A)-30, New Delhi, which upheld an addition of Rs. 19,98,738/- as bogus interest expenditure under section 69C of the Income Tax Act, 1961. The assessee argued that the addition was erroneous as the lower appellate authority had already deleted a corresponding addition of unexplained cash credits. Additionally, the assessee contended that the source of the interest expenditure was not held as unex…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) erred in sustaining the addition of Rs. 19,98,738/- as bogus interest expenditure.
- 2. Whether section 115BBE should be applicable to the sustained addition.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
1 precedent cited in this judgement.