2025 (12) TMI 417

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....al, DR ORDER Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the Commissioner of Income-tax (Appeals), Kolkata-26, (hereinafter referred to as the "Ld. CIT(A)"] dated 14.07.2025 for the AY 2020-21. 2. The issue raised in ground no.2 is against the order of learned CIT(A) confirming the addition of Rs. 15,00,000/- as made by the learned AO on accou....

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....g the course of search proceeding certain papers were found which revealed that assessee has taken unsecured loan from shell entity and also paid interest thereon. Thereafter, the learned AO noted that M/s JATS agency Pvt. Ltd. got merged with the assessee company pursuant to the order of NCLT with effect from A.Y. 2020-21, and all the assets and liabilities of the amalgamating company vested with....

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.... by observing that the lender company has net worth of Rs. 10 crores and has shown profit of less than 1 lacs from operation. The learned CIT (A) noted that in 2018-19, the said company has shown net profit of Rs. 94,273/- and in A.Y. 2019-20, Rs. 30,410/-. Thereafter, ld CIT(A) confirmed the addition after upholding the order of the learned AO on this issue. 2.3. After hearing the rival conten....

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....35 (Calcutta)/[2022] 448 ITR 332 (Calcutta)[14-07-2022], has held that where the assessee has furnished all the evidences with the AO and then no addition can be made if AO has not done any enquiry. The Hon'ble Court has held as under: "'In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by the Commissi....