AMAN JAIN ,DELHI V. INCOME TAX DEPARTMENT THROUGH ITO WARD 34(5) CIVIC CENTRE NEW DELHI, NEW DELHI

ITA 2310/DEL/2024

AI Insights

The case involves Aman Jain, who appealed against the order of the Commissioner of Income Tax (Appeals)/National Faceless Assessment Centre, which pertained to the assessment year 2021-22. The primary issues in the appeal included disallowance under Chapter VIA of the Income Tax Act, unexplained cash credits in the capital account, additions of unsecured loans, and disallowance of purchases along with corresponding balances of sundry creditors. The Tribunal found that the additional evidences submitted were pertinent to the additions made by the Assessing Officer and required verification of their genuineness and impact on the total income of the assessee.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 27007 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2021-2022
• Laws Referred To: Income Tax Act 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHISH TRIPATHI
• Assessee Lawyers: RAKESH GUPTA
• Keywords: Additional evidence; Unexplained cash credit
• Section: 143(3)

Judgement Text

" ITA No. 2310/Del/2024 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No.2310/Del/2024 Assessment Year: 2021-22 Aman Jain, C-18, 2nd Floor, Multan Nagar, Paschim Vihar West, Delhi PIN: 1100 63 PAN No.BDTPJ7356P Vs. Income-tax Officer, Ward 34(5), New Delhi (APPELLANT) (RESPONDENT) Appellant by Dr. Rakesh Gupta & Shri Shrey Jain, Advocates Respondent by Shri Ashish Tripathi, Sr. DR Date of hearing: 12/02/2025 Date of Pronouncement: 19/02/2025 ORDER PER ANUBHAV SHARMA: JUDICIAL MEMBER: This appeal is directed by the assessee against the order dated 14.03.2024 passed by the Commissioner of Income Tax(Appeals)/National Faceless Assessment Centre (NFAC), Delhi ITA No. 2310/Del/2024 2 [hereinafter referred to as “CIT(Appeals)” pertaining to assessment year 2021-22 and arises out of the assessment order passed under section 143(3) r.w.s. 144B of the Income Tax Act 1961 [hereinafter referred as ‘the Act’]. 2. On hearing learned representatives of both the sides and after going through the material on record including the application for filing the additional evidences under Rule 24 of the ITAT Rules, we find that the assessee has challenged the disallowance of Rs.2,13,214 under Chapter VIA of the Act for which the assessee who is an individual and managing his proprietorship business of dealing in scrap even failed to produce the evidence of an insurance policy. Assessee has further challenged the additions made on account of unexplained cash credits in the capital account and additions of unsecured loans which are claimed to be received from banking channel. Assessee challenges a disallowance of purchases and also corresponding balances of sundry creditors. 3. The additional evidences filed before us are detailed below: S. No. Particulars Page No. 1. Copy of details of creditors/suppliers showing name, GST Number, PAN No., purchases, payments made in the next year. 1-3 ITA No. 2310/Del/2024 3 2. Copies of remaining account of the suppliers in books of M/s A.P. Trading for AY 2021-22. 4-2 3. Copies of account of the suppliers in books of M/s A.P. Trading for AY 2022-23. 13-29 4. Copies of account of the suppliers in books of M/s Arihant Steels for AY 2022-23. 30-33 5. Copy of the bank statement of M/s Arihant Steels for the period 27.11.2020 to 31.03.2022. 34-61 6. Copy of the bank statement of M/s A.P. Trading Co. for the period 13.10.2020 to 31.03.2022. 62-108 7. Copy of updated GSTR-2A of M/s A.P. Trading Co. for AY 2021-22. 109-121 8. Copy of updated GSTR-2A of M/s Arihant Steels for AY 2021-22. 122-123 9. Copy of records from GST proceedings in custody of GST Deptt. together with evidence thereof. 124-131 10. Copy of e-way bills on sample basis downloaded from GST Portal. 132-150 11. Copy of ledger account duly confirmed from Sh. Hari Ram Mangla. 151 12. Copy of Aadhar and PAN card of lender. 152-154 13. Copy of Bank Statement of the lender. 155-157 14. Copy of purchase register of M/s A.P. Trading Co. for A 2021-22. 158-167 ITA No. 2310/Del/2024 4 15. Copy of purchase register of M/s Arihant Steels for A 2021-22. 168-169 4. We are of the considered view that the evidences sought to be produced have direct bearing on the additions as made by the learned Assessing Officer and sustained by the learned CIT (Appeals). However, the same requires verification of their genuineness and bearing on the total income of assessee. Taking wholesome view on the matter, we admit the additional evidences and restore the issue on merits to the files of learned Assessing Officer to give a fresh opportunity of hearing and also to take into consideration the additional evidences admitted hereinabove. 5. Learned Departmental Representative shall ensure the additional evidences as admitted are forwarded to the learned Assessing Officer. The issue on merit is restored subject to deposit of cost of Rs.10,000 by the assessee with the Prime Minister Relief Fund and a copy of challan showing deposit of the cost shall be furnished to the Assessing Officer within 60 days of the receipt of this order. In case cost is not deposited in period of sixty days of ITA No. 2310/Del/2024 5 receipt of this order, this appeal shall be considered dismissed on merits for lack of evidences to support the grounds. 6. In the result, the appeal filed by the assessee is allowed for statistical purposes. Order pronounced in the open court on 19.02.2025. Sd/- Sd/- (NAVEEN CHANDRA) (ANUBHAV SHARMA) ACCOUNTANT MEMBER JUDICIAL MEMBER *Mohan Lal* Dated: 19th .02.2025 Copy forwarded to: 1.Appellant 2.Respondent 3.CIT 4.CIT(Appeals) ` 5.DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI "