DCIT, Central Circle-19, New Delhi Vs National Industrial Corporation Pvt. Ltd.

Parties Involved

Facts Summary

The Revenue’s appeal for Assessment Year 2006-07 arises against the CIT(A)/NFAC, Delhi’s order dated 28.10.2024, in proceedings under section 143(3) of the Income Tax Act, 1961. The Assessing Officer had made an addition of Rs.3,38,72,500/- in the assessee’s hands as unexplained payments based on a search/survey action conducted on the premises of M/s Radico Khaitan and a statement recorded from Mr. R. K. Miglani (General Secretary of Uttar Pradesh Distillery Association). The learned CIT(A) reversed this addition, stating that the issue had been decided in favor of the assessee and against the department in previous matters.…

Legal Issues

• 1. Whether the CIT(A) has erred in deleting the addition of Rs.3,38,72,500/- on account of unexplained payments.
• 2. Request to add or amend the grounds of appeal before the ITAT is finally heard or disposed of.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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