ITA No.227/Del/2024
Case No: ITA No.227/Del/2024
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH, ‘C’: NEW DELHI
Date: 1/14/2026
Parties Involved
appellantACIT, Central Circle
respondentAL-Arsh Exports Pvt Ltd.
Facts Summary
The appellant assessee, AL-Arsh Exports Pvt Ltd., is a company engaged in the export of meat. It filed its original Return of Income on 27.09.2014 declaring total income at Rs.32,32,700/-. Following a survey by the income tax authorities on 28.04.2015, a Trial Balance as at 31.03.2014 showing Share Application Money at Rs.15,00,00,000/- was noticed. Based on this, the Assessing Officer issued a notice under section 148 of the Act on 22.03.2018. The appellant company responded by filing a Return …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) erred in deleting the addition of Rs.15,00,00,000/- made by the Assessing Officer u/s 68 of the Income Tax Act on account of unexplained share application money received during the F.Y. 2013-14 relevant to AY. 2014-15.
- 2. Whether the Ld. CIT(A) erred in deleting the addition without considering the explanations regarding capacity, genuineness, and creditworthiness of investors.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.