ITA No.3909/Mum/2024 and others

Parties Involved

Facts Summary

The case involves appeals filed by the Department against the order passed by the Commissioner of Income Tax (Appeals) for the assessment years 2016-17, 2017-18, and 2018-19. The Department challenged the deletion of additions made under Section 68 of the Income Tax Act, 1961, arguing that the assessee failed to substantiate the nexus of expenses claimed with the business activity. The assessee, M/s. Alpine Corporate Advisors Private Limited, argued that the Tribunal's decision in a similar case involving its group concern, M/s. Novo Corporate Advisors Private Limited, should be followed. The Tribunal upheld the order of the Commissioner of Income Tax (Appeals), dismissing the Department's appeals.…

Legal Issues

• 1. Deletion of addition made under Section 68 of the Income Tax Act, 1961

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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