ESKAG Sanjeevani Pvt. Ltd. vs DCIT
Case No: ITA No. 1638 & 1639/KOL/2024
Court: Income Tax Appellate Tribunal “B” Bench, Kolkata
Date: 10/8/2025
Parties Involved
RespondentDCIT
AppellantESKAG Sanjeevani Pvt. Ltd.
Facts Summary
A search action was conducted on the health care group on 05.02.2021, and ESKAG Sanjeevani Pvt. Ltd. was one of the related entities. The assessee filed the return of income declaring total income at ₹ nil. The Assessing Officer (AO) observed that the assessee had taken unsecured loans from Asha Apartments Pvt Ltd amounting to ₹4,04,50,000/- on which interest of ₹31,27,420/- was paid during the year. The AO noted that the identity and genuineness of the transactions remained unverified as the as…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition of ₹4,04,50,000/- made by the AO u/s 68 of the Act in respect of unsecured loans taken during the year.
- 2. Disallowance of interest paid on the loan from M/s Asha Apartments Pvt Ltd.
Precedents Relied Upon
6 precedents cited in this judgement.