2025 (3) TMI 1713

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....ER PER RAJESH KUMAR, AM: These are appeals preferred by the assessee against the orders of the Commissioner of Income-tax (Appeals), Kolkata-27 (hereinafter referred to as the "Ld. CIT(A)"] even dated 15.03.2024 for the AY 2019-20 & 2021-22. 02. At the outset, we note that there is delay of 174 days for which condonation petition along with affidavit was filed, explaining the reasons for ....

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....ailable on record, we find that the reasons for delay appear to be sufficient and bonafide and accordingly, the delay is condoned. 2203/KOL/2024 for A.Y. 2021-22 05. The only issue raised by the assessee is against the order of ld. CIT (A) confirming the addition of Rs.1,70,607/- as made by the ld. AO on account of interest on loan paid to M/s Chordia Trade Credits Private Limited. 06. Th....

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....d holding as under:- "5.2. Discussion and decision: 5.2.1. I have perused the assessment order as well as the submission of the assessee. On examining the same, it is noticed that the Ao has rightly added the addition of non genuine business expenditure, hence there is no need to intervene in the AO's orders. Hence the appeal is dismissed. 6. In the appeal Ground No.....

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.... at which the interest was provided. We also note that during the course of search proceeding, no incriminating material was seized qua this item. Therefore, considering these facts, we are not in a position to agree with the conclusion of ld. CIT (A) on this issue. Thereby, on the ground that the loans and advances and the unsecured loan taken in the preceding assessment year has been accepted an....