DCIT, Central Circle -2(3) Vs. Maxcab Industries Pvt. Ltd.
Case No: ITA No.2590/KOL/2024
Court: INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA
Date: 10/16/2025
Parties Involved
appellantDCIT, Central Circle -2(3)
respondentMaxcab Industries Pvt. Ltd.
Facts Summary
Maxcab Industries Pvt. Ltd. filed its return of income on 05-02-2022, declaring a total income of ₹87,530/-. The return was processed under Section 143(1) of the Act. The company is part of the Goel Group and is engaged in trading raw materials for electric goods. A search and survey under Sections 132(1) and 133A of the Act were conducted on 15-03-2022, during which incriminating documents were seized, suggesting the group was routing unaccounted funds through shell companies as unsecured loans…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition of ₹9.45 Crores by the ld. CIT (A) as made by the ld. AO under Section 68 of the Act in respect of bogus unsecured loans.
Precedents Relied Upon
3 precedents cited in this judgement.