IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH, AHMEDABAD BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Years: 2014-15 & 2015-16 Income Tax Officer, Ilesh Infracap Private Ward – 2(1)(1), Limited, Aayakar Bhawan, Vejalpur, House No.1, 100 Ft. Anandnagar Road, Sigma Commerzone, Ahmedabad – 380 015. Near Gallops Mall, (Gujarat). Vs. ISCON Cross Road, S.G. Highway, Ahmedabad – 380 015.

(Gujarat).

[PAN – AABCI 7211 H]

(Appellant) (Respondent)

Assessee by Shri Aseem Thakkar, AR Revenue by Shri R.P. Rastogi, CIT-DR & Shri Abhijit, Sr. DR Date of Hearing 06.10.2025 Date of Pronouncement 25.11.2025

O R D E R

PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER:

These two appeals are filed by the Revenue against the separate orders of the National Faceless Appeal Centre (NFAC), Delhi (in short “the CIT(A)”), both dated 27.10.2024, for the Assessment Years (A.Y.) 2014- 15 & 2015-16 in the proceedings under Section 147 r.w.s. 144B of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’).

2. As the facts involved in these two cases are identical, both the matters were heard together and are being disposed of vide this common order for the sake of convenience. We will first take up the appeal of the Revenue for the A.Y. 2014-15.

ITA No.2114/Ahd/2024 for A.Y. 2014-15

3. The brief facts of the case are that the assessee had filed its return of income for the A.Y. 2014-15 on 02.08.2022 declaring Nil income. The case of the assessee was reopened vide issue of notice u/s 148 of the Act dated 30.06.2021, to examine the credit entries of Rs.4,34,67,000/- appearing in the bank account of the assessee with IDBI Bank. The assessee had approached the Hon’ble Gujarat High Court against the said notice u/s 148 of the Act, which was quashed by the Hon’ble High Court. Thereafter, the Department in consequence to the direction of the Hon’ble Supreme Court in the case of Ashish Agarwal and others that the notice u/s 148 of the Act issued under the old provisions shall be treated as show cause notice in terms of Section 148A(b) of the Act, had acted further. The Assessing Officer had issued a notice u/s 148A(b) of the Act on 24.05.2022 which was complied by the assessee. Thereafter, a fresh notice u/s 148 of the Act was issued by the Assessing Officer on 27.07.2022, after passing an order u/s 148A(d) of the Act on the same day. In the course of assessment proceeding, the Assessing Officer had treated the entire credit entries appearing in the bank account of the assessee as unexplained and completed the assessment u/s 147 r.w.s.

144B of the Act on 29.05.2023 at total income of Rs.4,34,67,000/-.

4. Aggrieved with the order of the Assessing Officer, the assessee had filed an appeal before the First Appellate Authority which was decided by the Ld. CIT(A) vide the impugned order and the addition made by the Assessing Officer was deleted.

5. Now, the Revenue is in appeal before us. The following grounds have been taken in this appeal: -

“1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was justified in deleting the addition of Rs.4,34,67,000/- on account of unexplained money u/s.69A of the Act, without appreciating the facts of the case?

2. Whether on the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in ignoring the fact that the assessee engaged into transaction with entities which are bogus and are facilitators of accommodation entries?

3. The appellant craves leave to amend or alter any ground or add a new ground, which may be necessary.

4. It is, therefore, prayed that the order of Ld. CIT(A) may be set aside and that of the Assessing Officer be restored?”

Application under Rule 27 by the Assessee

6. The assessee has filed an application under Rule 27 of the Income Tax (Appellate Tribunal) Rules, 1963. Shri Aseem Thakkar, Ld. AR of the assessee, explained that the assessee had raised a legal ground against the reopening of the case u/s