DCIT VS. M/S IT Enfraservices Pvt. Ltd.

Parties Involved

Facts Summary

The Deputy Commissioner of Income Tax, Central Circle-1, made an addition of Rs. 5,26,26,000/- on account of unexplained loan u/s 68 of the Income Tax Act, 1961. The assessee, M/s IT Enfraservices Private Limited, appealed before the Ld. Commissioner of Income Tax (Appeals)-3, who deleted the addition. The Revenue then appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Addition of Rs. 5,26,26,000/- on account of unexplained loan u/s 68 of the Act.

Judgment Outcome

Decided in favour of Assessee.

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