2025 (2) TMI 1828

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Ms. Harpreet Kaur, Sr. DR ORDER PER ANUBHAV SHARMA: JUDICIAL MEMBRE Assessee has filed the appeal against the order dated 16.07.2024 under Section 250 of the Income-Tax Act, 1961 (hereinafter referred "the Act" ) passed by the learned Commissioner of Income-Tax (Appeals)/National Faceless Assessment Centre (NFAC), Delhi in an appeal before him arising out of assessment order dated 30.03.2....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dditional evidences on which remand report was sought and ultimately assessee got relief except to the extent of Rs. 5,00,000/- which were on account of unsecured loan taken from one Matbar Singh. Ld. CIT(Appeals) was of the view that the creditworthiness of the lender was not established as the copy of ITR was not made available in this lender's case. Accordingly, the assessee has raised the foll....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....34B. 6. That the appellant seeks leave to add, amend, alter or abandon any or all of the above grounds at the time of the appeal". 3. Learned AR has primarily argued on the basis of the documents available in paper books that said Matbar Singh was salaried person who had Form 16 in his favour and assessee had received the amount through banking channel. Thus, for the purpose of section....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sued to the lender under Section 133(6) of the Act. The lender Matbar Singh had furnished the confirmation in the form of ledger account. The amount of Rs. 5,00,000 was paid through cheque and there was corresponding entry in the bank account of the lender. Thus, with regard to the identity and genuineness of transaction, the Assessing Officer himself had not doubted during remand proceedings and ....