M/s Fairdeal Information Technology Private Limited vs. Income Tax Officer
Case No: ITA No.2793/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench 'B', New Delhi
Date: 2/13/2026
Parties Involved
AppellantM/s Fairdeal Information Technology Private Limited
RespondentIncome Tax Officer, Ward-9(1), New Delhi
Facts Summary
The assessee, M/s Fairdeal Information Technology Private Limited, filed its return of income on 29.09.2013, declaring a total income of Rs. 5,81,730/-. The case was re-opened under section 147 of the Income Tax Act, 1961, and a notice was issued under section 148 on 20.04.2021. The assessee was alleged to have received deposits in the bank account to the extent of Rs. 13,58,00,000/- which remained unexplained. An assessment order was passed on 22.05.2023, making an addition of Rs. 13,58,00,000/…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the reassessment proceedings initiated by the Assessing Officer were valid.
- 2. Whether the addition of Rs. 12,00,00,000/- received from the sale of shares was justified.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
16 precedents cited in this judgement.