ITA No.655/Rjt/2025

Parties Involved

Facts Summary

The case involves an appeal by the Assistant Commissioner of Income Tax against the order of the Commissioner of Income-Tax (Appeals)-Ahmedabad, passed under section 250 of the Income-tax Act, 1961, for the Assessment Year 2014-15. Hanuman Industries, a partnership firm engaged in the trading and export of agricultural produce, had filed an appeal against the assessment order. The Revenue raised grounds of appeal regarding the deletion of upward adjustments, disallowance of interest expenditure, and addition of unaccounted interest income. The key facts revolve around the nature of transactions with Associated Enterprises, the disallowance of interest on advances, and the addition of interest income.…

Legal Issues

• 1. Deletion of upward adjustment of Rs. 2,49,75,211/- made by the Assessing Officer on account of transfer pricing provisions.
• 2. Deletion of disallowance of interest expenditure amounting to Rs. 7,21,200/-.
• 3. Deletion of addition of Rs. 1,95,363/- on account of unaccounted interest income.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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