DCIT, Central Circle-4(4), Kolkata Vs. Vikas Kumar Agrawal
Case No: I.T.A. No. 2112/Kol/2024
Court: Income Tax Appellate Tribunal (ITAT), Kolkata Bench
Date: 3/17/2025
Parties Involved
appellantDCIT, Central Circle-4(4), Kolkata
respondentVikas Kumar Agrawal
Facts Summary
The assessee, Vikas Kumar Agrawal, filed his return of income for the Assessment Year 2017-18 declaring a total income of Rs. 9,54,420/-. The assessment was reopened following the Supreme Court's decision in Union of India & Ors. Vs. Asish Kumar Agarwal. The Assessing Officer (AO) added Rs. 8,00,070/- to the assessee's income for failing to explain a credit of that amount. The assessee appealed to the Commissioner of Income Tax (Appeals)-27, Kolkata (Ld. CIT(A)), who allowed the appeal, holding …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) erred in deleting the disallowed bogus unsecured loan of Rs. 8,00,070/- taken from a shell company.
Precedents Relied Upon
2 precedents cited in this judgement.