2025 (3) TMI 1688

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....: Shri Anurag Sinha (Advocate) - Ld. AR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by Revenue for Assessment Year (AY) 2018-19 arises out of an order of learned Commissioner of Income Tax (Appeals), Kanpur [CIT(A)] dated 03-01-2024 in the matter of an assessment framed by Ld. DCIT, Central Circle, Agra u/s 143(3) of the Act on 30-12-2019. Having heard rival submiss....

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....of Settlement-VII, Chennai (IBC) u/s 245D(4) of the Act on 26/27-09- 2023 wherein primary contention stood rejected that Shri Maa Bhagwati Enterprises was dummy / paper concern of BNR group. The sales and purchases of this entity were accepted by Hon'ble IBC. The Ld. CIT(A) concurred that as per order of Hon'ble IBC, Shri Maa Bhagwati Enterprises was doing trading of edible oils and Net Profit rat....