2026 (1) TMI 592

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.... Meena, Sr. D.R. ORDER PER SUCHITRA KAMBLE, JUDICIAL MEMBER: This is an appeal filed against the order dated 24-02- 2025 passed by National Faceless Appeal Centre (NFAC), Delhi for assessment year 2014-15. 2. The grounds of appeal are as under:- "1) The assessing officer treated the amount of Rs. 42,00,000/- received from creditors as unexplained cash credits and added to the ....

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....te any or all the grounds of appeal." 3. The assessee company is engaged in the business of manufacturing and selling of products like Ayurvedic products like tablets, capsules, oil, syrup and ointment. The assessee filed return of income on 28-11-2024 declaring total loss at Rs. (-) 38,59,306/-. The assessee's case was selected for scrutiny and notice u/s. 143(2) of the Act was issued on 28-08....

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....thiness of Aaheli Projects Pvt. Ltd. (Rs. 40,00,000/-) and Berhampore Finance & Leasing Pvt. Ltd. (Rs. 20,00,000/-) which are the depositors. After verifying the assessee's details, the Assessing Officer held that Berhampore Leasing & Finance Pvt. Ltd. has no creditworthiness to lend a huge sum of Rs. 42,00,000/- and thus the said amount received as unsecured loan was treated as unexplained cash c....

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....relied upon the assessment order and the order of the CIT(A). 7. We have heard both the parties and perused all the relevant material available on record. The Assessing Officer as well as CIT(A) has relied upon the finding of the assessment year 2013-14 passed by the Assessing Officer in that relevant year in respect of Berhampore Finance and Leasing Pvt. Ltd. and Aaheli Projects Pvt. Ltd. The ....