2019 (7) TMI 1158

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....subject to all just exceptions. ITA 666/2019 2. This appeal has been filed by the Revenue against the order dated 4th February, 2019 passed by the ITAT in ITA No. 6546/Del/2015 for Assessment Year 2011-12. 3. The short question urged by the Revenue is whether the Income Tax Appellate Tribunal (ITAT) erred in confirming the order of the Commissioner of Income Tax (Appeals) ['CIT (A)'] and allowi....

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....unt. This is despite the return being scrutinized under Section 143(3) of the Act. 5. The disallowance could not have been without a preceding inquiry into the claim made by the Assessee. In fact the ITAT in its order noted the submission on behalf of the Assessee that as against US $ 10 million given as loan it received US$10,01,50,000 and US$ 1,50,000 was offered as income of the Assessee for t....