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INCOME TAX APPELLATE TRIBUNAL (HYDERABAD BENCH)
VIJAY PAL RAO, Vice-President, MANJUNATHA G., Accountant Member
DCIT, Circle-2(1) – Appellant
Versus
Kalptaru Investments Private Limited – Respondent
| Table of Content |
|---|
| 1. revenue and assessee grounds on commission disallowance and reopening validity. (Para 2 , 3) |
| 2. assessee challenges reopening under s.147 on borrowed satisfaction grounds. (Para 4 , 5) |
| 3. revenue defends reopening with investigation evidence of reversal trades. (Para 6) |
| 4. reopening quashed for factual errors and non-application of mind. (Para 7) |
| 5. revenue appeal dismissed; assessee cross-objection allowed. (Para 8 , 9) |
आदेश/ORDER
PER VIJAY PAL RAO, VICE PRESIDENT :
This appeal ITA No.1077/Hyd/2025 by the Revenue and Cross Objection No.26/Hyd./2025 by the Assessee are directed against the Order dated 15.04.2025 of the learned CIT(A)-National Faceless Appeal Centre [in short “NFAC], Delhi, for the assessment year 2013-2014.
ITA.No.1077/Hyd./2025 - A.Y. 2013-2014 [Revenue Appeal]:
2. The Revenue has raised the following grounds of the appeal:
1. “Whether on the facts and circumstances of the case and in law the order of the Learned CIT(A) erred in holding that the addition on account of cash commission expense of Rs.2,93,31,381/ was made solely on suspicion by ignoring the facts brought on record establishing manipulation of derivative transactions as part of colourable dev
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