2025 (9) TMI 1431

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....the Assessee : Smt. Priyanka Salarpuria and N.S. Saini, AR For the Revenue : Shri Sanat Kr. Raha, CIT-DR ORDER PER BENCH : This is an appeal filed by the revenue against the order of the National Faceless Appeal Centre [hereinafter referred to as the 'CIT(A)'] in appeal no.NFAC/2017-18/10046007 dated 19.07.2024 for assessment year 2018-19 and the assessee has filed cross-objection agai....

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.... considered the fact that the loan was of an amount of Rs. 19.5 crores but only 1.95 crores. It was the submission that subsequently, the ld. CIT(A) on the ground that the two companies were not paper companies or shell companies deleted the addition. It was the submission that the order of the ld. CIT(A) be reversed. 4. In reply, the ld. AR drew our attention to para 7.6 and 7.9 of the order o....

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.... of Babcock Borsing Ltd. is not 19.85 crores but 1.95 crores. This error has also been corrected by the assessee by filing revised audit report. Admittedly, the balance sheet of the assessee also shows same amount of Rs. 1.95 crores. In regard to addition of Rs. 1.95 crores and 75 lakhs deleted by the ld. CIT(A), we find that in para 7.9 of the order of the ld. CIT(A), the assessments u/s 143(3) o....