ITA No. 6414/DEL/2017
Case No: ITA No. 6414/DEL/2017
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘F’, DELHI
Date: 1/9/2026
Parties Involved
appellantITO, WARD-3, AAYAKAR BHAWAN, SETOR-12, KARNAL HARYANA
respondentMAHABIR SOLVENT OIL MILLS, KARNAL G.T. ROAD, TARAORI, KARNAL HARYANA
Facts Summary
The assessee firm, Mahabir Solvent Oil Mills, was engaged in the solvent extraction business at Taraori. The firm filed its return of income for the assessment year 2008-09 on 29.09.2008, declaring a taxable income of Rs. 69,720/-. The case was subsequently reopened under section 148 of the Income-tax Act, 1961, and the income was reassessed at Rs. 3,17,21,880/-. The Assessing Officer (AO) made additions of Rs. 1,53,19,432/- and Rs. 1,63,32,725/- as Long Term Capital Gain (LTCG) on account of la…
Decision in favour of
Revenue
Legal Issues
- 1. Whether the CIT(A) was right in law in deleting the addition made on account of LTCG when no original partnership deed and original copy of Audit Report were produced at the time of assessment proceedings?
- 2. Whether the CIT(A) was right in law in deleting the addition on account of LTCG after considering the partnership deed dated 1.4.2008, which did not indicate Sh. Anil Sahni as a retiring partner?
1 more legal issue analysed in this judgement.
Precedents Relied Upon
3 precedents cited in this judgement.