ITA No. 3826/DEL/2024 ACIT Vs Venus Portfolios Pvt Ltd.
Case No: ITA No. 3826/DEL/2024
Court: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI
Date: 1/8/2026
Parties Involved
appellantACIT, Circle-25(1) New Delhi
respondentVenus Portfolios Pvt. Ltd.
Facts Summary
The assessee, Venus Portfolios Pvt. Ltd., filed its original return of income for A.Y. 2016-17 on 15.10.2026 declaring Nil income and a current loss of Rs. 1,25,00,249/-. The case was selected for scrutiny, and the assessment was completed u/s 143(3) on 26.12.2018 at an income of Rs. 6,10,58,225/- after making additions of Rs. 7,20,00,000/- on account of unexplained cash credit u/s 68 and Rs. 1,89,58,918/- as disallowance u/s 14A r.w. Rule 8D. Aggrieved by the assessment order, the assessee appe…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Whether the Ld. CIT(A) has erred in deleting the addition of Rs. 7,20,00,000/- on account of unexplained cash deposit u/s 68.
- 2. Whether the Ld. CIT(A) has erred in deleting the addition of Rs. 15,58,474/- on account of disallowance u/s 14A.
Precedents Relied Upon
2 precedents cited in this judgement.