2025 (5) TMI 2053

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...., Sr. DR ORDER PER ANUBHAV SHARMA, JM: This appeal is preferred by the Assessee against the order dated 24.05.2024 of the Commissioner of Income-tax (Appeals), NFAC, Delhi (hereinafter referred to as the Ld. First Appellate Authority or 'the Ld. FAA', for short) in Appeal No.CIT(A), Delhi-5/10543/2016-17 arising out of the appeal before it against the order dated 27.12.2016 passed u/s 143....

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.... Act, the AO doubted the genuineness of the loan/advances and made the addition u/s 68 of the Act which is sustained by the ld.CIT(A) against which the assessee is in appeal raising the following grounds:- "1 That Id CIT(A) without appreciating the correct facts of the case and without considering the documents filed during the course of appellate proceedings is not justified in law and f....

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....ind that the case of the assessee is that out of this disputed addition of Rs. 84 lakhs, a loan of Rs. 83 lakhs was received in earlier years. The ld. AR has placed before us a chart mentioning the details of the parties and that how this amount of Rs. 83 lakhs comes as an opening balance from 17 parties. This aspect could not be disputed by the ld. DR. We find that during the year even a sum of R....