IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘B’ NEW DELHI BEFORE SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER ITA No. 991/Del/2023 (A.Y. 2017-18)

ITO, Ward-10(1) Vs. Glo-Tech Enterprises Pvt. New Delhi Ltd.A-61/1, Okhla Industrial PAN: AADPD6869P Area Phase-2, New Delhi Appellant Respondent Assessee by Shri Amol Sinha, Adv Revenue by Sh. Surender Pal, CIT, DR Date of Hearing 21/01/2025 Date of Pronouncement 26/03/2025 ORDER PER YOGESH KUMAR, U.S. JM:

The present appeal is filed by the Revenue against the order of the CIT(A)/National Faceless Appeal Centre [(‘NFAC’) for short] Delhi dated

27/02/2023 for the Assessment Year 2017-18.

2. The Grounds of Appeal are as under:-

“1. "Whether on the facts and circumstances of the case, Ld. CIT(A) was justified in deleting the addition of Rs. 22,25,00,000/- made on account of unexplained investment made u/s 69 of the I.T Act, 1961 ignoring the statement given by the Sh. Narender Bansal (Director of the assessee company)

before the authorities of Income Tax Department on 15.12.2016 during the survey operation conducted at the premise of M/s. Intex Technologies India Ltd. situated at D- 18/2, Ok