IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5054/Del/2024 [Assessment Year: 2012-13]

M/s Continental Exim Limited Income Tax Officer, (Through Ex Director: Sh. Kapil Ward 6(3), Goel), Vs New Delhi-110002 A-275, New Friends Colony, New Delhi-110025 PAN-AAACC0710E Assessee Revenue Assessee by Shri Ved Jain, Adv., Ms. Uma Upadhyay, CA and Ms. Kirti Gupta, AR Revenue by Sh. Rajesh Kumar Dhanesta, Sr. DR Date of Hearing 25.02.2025 Date of Pronouncement 25.02.2025

ORDER

PER MANISH AGARWAL, AM:

This appeal is filed by the assessee against the order of the CIT(A)

National Faceless Appeal Centre ((NFAC) Delhi, having DIN No. ITBA/NFAC/S/250/2024-25/1068331616(1), dated 04/09/2024 in appeal NO. CIT(A), Delhi-2/10558/2019-20 for Assessment Year 2012-13, passed under section 250 of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’).

2. Brief facts of the case are that the assessee was a private limited company and filed its return of income for Ay 2012-13 on 31.03.2014 declaring loss of Rs. 730/-. The AO based on the information that assessee has obtained accommodation e