R N BUILDTECH PRIVATE LIMITED,BAKSHI NAGAR, JAMMU V. WARD 1(1), JAMMU, WARD, JAMMU

ITA 430/ASR/2025

AI Insights

The case involves M/s R N Buildtech Private Limited, which appealed against the order of the Commissioner of Income Tax (Appeals), NFAC, concerning an assessment made by the Learned Assessing Officer (AO) under sections 147 and 144 of the Income Tax Act. The AO had made an addition of Rs. 31.50 Lacs to the assessee's income, alleging that the investment in a BMW vehicle was from undisclosed sources and not reflected in the financial statements. The assessee contended that the vehicle was purchased with a loan from BMW India Financial Services Pvt. Ltd., which was recorded in the books. However, the CIT(A) rejected this claim due to lack of documentary evidence. The Income Tax Appellate Tribunal (ITAT) found merit in the assessee's appeal and restored the matter to the CIT(A) for re-evaluation, emphasizing the need for the assessee to provide the necessary documents.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 833760 (ITAT-AMRITSAR)
• Duration Of Justice: 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 16-05-2025
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASSESSEE; CHARAN DASS LD.
• Assessee Lawyers: ADJOURNMENT APPLICATION
• Keywords: Depreciation
• Section: 147; 144

Judgement Text

"1 IN THE INCOME TAX APPELLATE TRIBUNAL “DB” BENCH, AMRITSAR VIRTUAL HEARING BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND SHRI UDAYAN DASGUPTA, JM आयकरअपीलसं. / ITA No.430/ASR/2025 (िनधाŊरणवषŊ / Assessment Year: 2014-15) M/s R N Buildtech Private Limited 276-A, Bakshi Nagar J & K - 180001 बनाम/ Vs. Ward 1(1) Jammu J&K - 180001 ̾थायीलेखासं./जीआइआरसं./PAN/GIR No. AADCR-9602-F (अपीलाथŎ/Appellant) : (ŮȑथŎ / Respondent) अपीलाथŎकीओरसे/ Appellant by : Adjournment Application ŮȑथŎकीओरसे/Respondent by : Sh. Charan Dass (Addl. CIT) – Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 03-02-2026 घोषणाकीतारीख /Date of Pronouncement : 04-02-2026 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2014- 15 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC dated 16-01-2025 in the matter of an assessment framed by Ld. AO on best judgment basis u/s 147 r.w.s. 144 of the Act on 29-03-2022. At the time of hearing, Ld. Counsel for assessee sought adjournment which was rejected considering the fact that the Printed from counselvise.com 2 first appeal has been dismissed for want of documentary evidences from the assessee. The Ld. Sr. DR pleaded for dismissal of the appeal. The registry has noted delay of 46 days in the appeal which stand condoned. 2. In the assessment order, Ld. AO made addition of Rs.31.50 Lacs on best judgment basis. The same represent purchase of a Motor Vehicle BMW Model No.BMW320D by the assessee. The Ld. AO alleged that the said investment was not reflected in the financial statements and the investment was out of undisclosed sources. During first appeal, the assessee contested the finding of Ld. AO and stated that that it had obtained loan of Rs.30 Lacs from BMW India Financial Services Pvt. Ltd. and these transactions were duly reflected in the books. However, Ld. CIT(A) did not accept the said claim for want of documentary evidences like loan sanction letter, purchase bill of the car etc. Aggrieved, the assessee is in further appeal before us. 3. From the findings of Ld. CIT(A) in para 5.5, it could be seen that the assessee has shown addition in fixed assets towards car and also claimed depreciation. However, the claim has been rejected primarily for want of relevant of documentary evidences from the assessee. To meet the same, we restore this issue back to the file of Ld. CIT(A) for fresh consideration with a direction to the assessee to plead and prove its case forthwith. Printed from counselvise.com 3 4. The appeal stands allowed for statistical purposes. Order pronounced on 04th February, 2026. -Sd- -Sd- (UDAYAN DAS GUPTA) (MANOJ KUMAR AGGARWAL) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 04-02-2026 आदेश की Ůितिलिप अŤेिषत /Copy of the Order forwarded to : 1. अपीलाथŎ/Appellant 2. ŮȑथŎ/Respondent 3. आयकरआयुƅ/CIT 4. िवभागीयŮितिनिध/DR 5. गाडŊफाईल/GF ASSISTANT REGISTRAR ITAT AMRITSAR Printed from counselvise.com "