2026 (4) TMI 1536

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.... Sr. D.R. ORDER PER NAVEEN CHANDRA, ACCOUNTANT MEMBER : The captioned appeal preferred by the assessee is against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi passed under section 250 of the Income-tax Act, 1961 (in short "the Act") dated 02.09.2024 arising from the assessment order dated 16.03.2023 under section 147 r.w.s 144B of the Act relating to assessment year 2....

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....of the case, the learned CIT (A) has erred both on facts and in law in passing a non-speaking order for denying contention of the assessee regarding applicability of Section 153C of the Act in the extant case. 5. That the appellant craves leave to add, amend or alter any of the grounds of appeal." 3. None was present on behalf of the assessee. We decided to hear the appeal ex-parte wit....

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....provisions of section 148A and 148A(d). 6. The reassessment proceedings was completed by treating the said amount of Rs. 26,50,000/- received from M/s. KB Enterprises as unexplained cash credit, the assessee being one of the beneficiaries of the Manish Gupta who was a Hawala operator. Further the AO found that assessee has declared in its balance sheet a sum of Rs. 2,73,19,000/- as loan and adv....

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.... is the contention of the assessee is that where the provision of section 153C are applicable, the AO cannot assume jurisdiction under section 148 of the Act. We are unable to give our consent to such a proposition. We find that the Hon'ble Delhi High Court has dispelled such objection in the case of PCIT v. Naveen Kumar Gupta [2024] 168 taxmann.com 574 (Delhi) referencing the decision of the Supr....