Income Tax Officer, New Delhi Vs. Indo Spirits

Parties Involved

Facts Summary

This Revenue’s appeal for assessment year 2022-23, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1073180440(1), dated 12.02.2025 involving proceedings under section 143(3) of the Income-tax Act, 1961. The Revenue’s appeal is against the CIT(A)/NFAC’s order holding the assessment findings adding the amount of Rs.33,77,88,969/- unexplained cash credits under section 68 r.w.s. 115BBE of the Act. The Revenue argues that the Assessing Officer had rightly treated the assessee’s impugned sum as having failed to explain the genuineness of the impugned cash credits representing sales realized from M/s. Popular Spirits LLP and M/s. Adharv Enterprises. The assessee, however, argues that it had filed all the details of the twin entities as considered in the lower appellate discussion.…

Legal Issues

• 1. Whether the addition of Rs.33,77,88,969/- unexplained cash credits under section 68 r.w.s. 115BBE of the Act is justified.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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