Kalash Buildtech Pvt. Ltd., Ghaziabad V. ITO, Ward- 14(1), New Delhi

ITA 6157/DEL/2017

AI Insights

The case involves Kalash Buildtech Pvt. Ltd, which appealed against the order of the Commissioner of Income Tax (Appeals)-5, Delhi, concerning an assessment order passed by the ITO, Ward-14(1), Delhi. The primary issues in the appeal were the non-admission of additional evidence and the sustenance of an unsecured loan, which was not established on the basis of the genuineness of the source. The tax authorities had added these loans as cash credits under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee failed to provide sufficient evidence to establish the genuineness of the lenders, leading to the dismissal of the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 131179 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 22-03-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 02-10-2017
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 68; 143(3)

Judgement Text

Page | 1 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI N. K. BILLAIYA , ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No. 6157/Del/2017 (Assessment Year: 2013-14) Kalash Buildtech Pvt. Ltd, H. No. 52, IInd floor, Gandhi Nagar, Ghazibad, UP 201001 Vs. ITO, Ward-14(1), New Delhi (Appellant) (Respondent) PAN: AAECK0636K Assessee by : None Revenue by: Shri Anuj Garg, Sr DR Date of Hearing 23/03/2023 Date of pronouncement 23/03/2023 O R D E R PER ANUBHAV SHARMA, J. M.: The appeal has been filed by the Assessee against order dated 21.07.2017 Appeal no. Del/CIT(A)-5/0297/2016-17 for assessment year 2013-14, passed by the Commissioner of Income Tax (Appeals)-5, Delhi (hereinafter referred to as the First Appellate Authority or in short ‘Ld. F.A.A.’) in regard to the appeal before it arising out of assessment order dated 04.03.2016 u/s 143(3) of I.T. Act, 1961 (hereinafter referred to as ‘the Act’) passed by ITO, Ward- 14(1), Delhi (hereinafter referred as Ld. Assessing officer or in short Ld. AO). 2. The case of the assessee was called for hearing and none appeared for the assessee. The record shows that none has appeared for the assessee often on earlier occasion and on last date of hearing dated 07.02.2023 adjournment was sought by the ld counsel for the ITA No. 6157/Del/2017 Kalash Buildtech Pvt. Ltd Page | 2 assessee on the basis that the assessee has not provided necessary documents. Similar requests was received on 10.08.2022. No more opportunity is justifiable. Argument of ld DR were heard, who supported the findings of the Tax Authorities below. 3. It can be appreciated that primarily the grounds involved the none admission of the additional evidence and sustenance of unsecured loan not established on basis of the genuineness of the source and added u/s 68 of the Act as cash credits. 4. There is nothing on record to show that the alleged confirmation made available to the ld CIT(A) had sufficient details to establish the genuineness of the lenders which have been ignored. The Tax Authorities below have primarily proceeded on the failure of the assessee to discharge the burden to establish the genuineness of the source of lenders and in the absence of any substantial evidence to the contrary, at this stage, the findings of the Tax Authorities below cannot be interfered. 5. In the result the appeal of the assessee is dismissed. Order pronounced in the open court on 23/03/2023. -Sd/- -Sd/- (N. K. BILLAIYA) (ANUBHAV SHARMA) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 23/03/2023 A K Keot Copy forwarded to 1. Applicant 2. Respondent 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, New Delhi