2025 (3) TMI 1788

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....bchand T. Pandya, Sr. DR ORDER PER BENCH : This is an appeal filed by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as "the Ld. CIT(A)"] vide order no. ITBA/NFAC/S/250/2024-25/1065080766(1) dated 22.05.2024 passed u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as "the Ac....

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....ubmission of the Ld. A.R. that as no land having a value of Rs. 4 Crore had been shown in the Balance Sheet of the assessee, the Assessing Officer disbelieved the transaction and treated the capital introduced as unexplained cash credit. It was the submission that the capital introduction of a partner in the firm per se can never be treated as unexplained cash credits in the hands of the firm unti....

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....mined Shri Vivek Mahan nor has brought the confirmation from him that he has not introduced the capital nor has the Assessing Officer shown that Shri Vivek Mahan is incapable of introducing a capital of Rs. 4 Crore. In fact, the AO recognizes that there has been some transaction of land between the managing partner and the firm. The only issue is as to whether the property has been transferred in ....