IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER No.1944/KOL/2025 आयकर अपील सं/ITA ( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

( निर्धारण वर् ा / Assessment Year : 2011-2012)

आदेश / O R D E R Per Bench :

This is an appeal filed by the assessee against the order of the ld.

CIT(A), National Faceless Appeal Centre (NFAC), Delhi, dated 14.07.2025 for the assessment year 2011-2012.

2. It was submitted by the ld.AR that the assessee had taken a loan of Rs.1 crore from M/s Nidhi Agro P. Ltd. during the impugned assessment year. Ld. AR drew our attention to page No.90 of the paper book which showed the confirmation of accounts and the loan having been taken on

02.07.2010, the same reads as follows :-

3. Ld.AR further drew our attention to page No.10 to the paper book which is the Schedule “C” and Schedule “D” too the balance sheet representing secured loan and unsecured loan. In Schedule “D” representing unsecured loan, the loss is shown consolidated as loan from companies of Rs.5 crores, which reads as follows :-

4. Ld.AR further drew our attention to page No.37 of the paper book which shows the particulars of loan/deposit taken/repaid during the year. It was the submission that this is apart of the tax audit report representing the details of loan and interest paid and the TDS, the same reads as follows :-

5. Ld.AR further drew our attention to page No.58 of the paper book which is a copy of the notice issued u/s.142(1) of the Act dated 30.04.2013, which reads as follows :-

6. Ld.AR further drew our attention to page No.59 of the paper book which is the details of documents called for in the said notice u/s.142(1) of the Act. It was the submission that in the item No.5 the details of unsecured loan raised during the financial year 2010-2011 indicating the names, complete postal address and PAN numbers of the creditors were called for, the same reads as follows :-

7. Ld.AR further drew our attention to page No.60 of the paper book which is the letter dated 17.12.2013 from Nidhi Agro Private Limited to the DCIT, Central Circle-VI, Kolkata confirming the details of the loan. The same reads as follows :-

8. Ld.AR further drew our attention to page No.76 of the paper book which is a copy of the assessment order passed u/s.143(3) of the Act on 28.03.2024. It was the submission that no addition in respect of said unsecured loan have been made by the Assessing Officer. The ld. AR subsequently drew our attention to page Nos.81 to 89 of the paper book which are the copies of the reasons recorded for the reopening of the assessment. The reads as under :-

9. Ld. AR further drew our attention to page 92 of the paper book which is a copy of the assessment order for the assessment year 2010-2011 in the case of the assessee. It was the submission that in the said assessment order the Assessing Officer had recognized that the bank account of ICICI bank by M/s Vista Dealcom Pvt. Ltd. was opened only on 01.11.2010 which was subsequent to the providing of the loan by Nidhi Agro Pvt. Ltd. to the assessee. Ld. AR also drew our attention to page No.54 of the paper book which is a copy of the loan repayment details, which reads as follows :-

10. It was the submission that Nidhi Agro Pvt. Ltd. had repaid on 23.01.2012 and TDS had