Zeliant Corp vs. Income Tax Officer, Ward 36(1), Delhi
Case No: ITA No.2201/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench 'A', New Delhi
Bench: Delhi Bench 'A', New Delhi
Date: 2/6/2026
Parties Involved
appellantZeliant Corp
respondentIncome Tax Officer, Ward 36(1), Delhi
Facts Summary
The appellant is a partnership firm coming into existence w.e.f. 31.07.2025 through a deed of partnership executed on that date between two partners Sh. Apurv Jain and Sh. Shlshu Sharma. The assessee made cash deposits of Rs. 67,25,000/- during demonetization and Rs. 5,57,000/- in the remaining period of F.Y. 2016-17. The assessing officer issued notices u/s 142(1) and 144(1)(b) of the Act but the assessee failed to provide a valid explanation for the deposits. The AO added Rs. 72,82,000/- as un…
Decision in favour of
Assessee
Legal Issues
- 1. Non-service of assessment order as per prescribed procedure.
- 2. Addition of Rs. 83,50,900/- u/s 69A rws 115BBE.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
9 precedents cited in this judgement.