2025 (3) TMI 1673

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..... Arun Kumar Yadav - Ld. CIT/DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeals by revenue for Assessment Year (AY) 2018-19 arises out of separate orders of learned first appellate authority. First, we take up appeal ITA No.181/Agr/2023 which arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC [CIT(A)] dated 29-09-2023 in the matter of an asses....

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....Upon further appeal, Ld. CIT(A) substantially confirmed the assessment except for deletion of addition of sundry creditors, opening stock and cash deposit for Rs. 12.73 Crores. The same was on the ground that the when income is estimated basis by rejecting the books of accounts, no further addition for these items could be made on the basis of same books of accounts as held by Hon'ble Rajasthan Hi....

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.... Therefore, we do not find any reason to interfere in the same. ITA No.181/Agr/2023 stand dismissed. 5. ITA No.182/Agr/2023 is directed against re-assessment order dated 31-03-2023 as passed by Ld. AO. The case was reopened on the ground that the assessee made paper purchases from two entities which were involved in Input Tax Credit fraud / evasion. Based on investigation findings, Ld. AO rejec....