Sh. Praveen Gupta Vs. ACIT, New Delhi

Parties Involved

Facts Summary

The present appeal has been filed by the assessee, Sh. Praveen Gupta, against the order dated 25.01.2024 passed by the learned Commissioner of Income-tax (Appeals) [in short “CIT(A)”] u/s. 250(6) of the Income-tax Act, 1961. This is the second round of appeal before the Tribunal. In the first round, the matter was restored to the Assessing Officer for adjudication afresh regarding two issues: addition made on account of unexplained credits u/s. 68 of the Act amounting to Rs.93,56,268/- and addition of sundry creditors held to be bogus and disallowed amounting to Rs.12,23,800/-. In the second round, both the additions were confirmed by the Assessing Officer. Before the CIT(Appeals), the assessee remained unrepresented, and the order of the Assessing Officer was upheld. The assessee has now come up in appeal before the Tribunal raising several grounds of appeal.…

Legal Issues

• 1. Whether the order passed by the Ld. CIT(A) is contrary to the facts and bad in law.
• 2. Whether the Ld. CIT(A) was justified in confirming the addition of Rs.36,71,268/- as unexplained cash credit.
• 3. Whether the Ld. CIT(A) was justified in confirming the addition of Rs.33,80,000/- as unexplained cash credit from Shri J.P. Gupta.
• 4. Whether the Ld. CIT(A) was justified in adding Rs.23,05,000 as addition u/s 2(22)(e) of the Act.

Judgment Outcome

Decided in favour of Revenue.

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