IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.2027/Del/2025 (ASSESSMENT YEAR: 2017-18)

DCIT, Paramount Propbuild Pvt.

Circle-19(1), Ltd.

Delhi. Vs. 208, 2^nd Floor, Sikka Mansion, LSC, Savita Vihar, New Delhi-110092.

PAN:AADCP522P (Appellant) (Respondent)

Assessee by Dr. Rakesh Gupta, Adv., and Shri Somil Aggarwal, Adv.

Department by Shri Pradumna Kumar Singh, Sr. DR Date of hearing 03.09.2025 Date of pronouncement 03.09.2025

O R D E R

PER MANISH AGARWAL, AM:

This appeal is filed by the Revenue against the order of Commissioner of Income Tax (Appeals), 29, Delhi in Appeal No. CIT(A), Delhi-7/10457/2019- 20 dated 24.01.2025 u/s 250 of the Income Tax Act, 1961 arising out of order passed u/s 143(3) dated 08.04.2021 for Assessment Year 2017-18.

2. Brief facts of the case are that assessee is a company and e-filed its return of income on 21.11.2018 declaring total income at Rs.2,80,29,572/-. The case of the assessee was taken up for scrutiny and the assessment was completed wherein disallowance of Rs. 3,23,93,370/- was made towards the interest paid on funds borrowed from two ent