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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Anubhav Sharma, Judicial Member, Manish Agarwal, Accountant Member
Lord Krishna Developers & Builders – Appellant
Versus
Income Tax Officer – Respondent
| Table of Content |
|---|
| 1. cross-appeals against nfac order on s.68 additions. (Para 1 , 2) |
| 2. assessee's challenge to unexplained cash credits u/s 68. (Para 3) |
| 3. interest disallowance on net partner capital balances. (Para 4) |
| 4. revenue challenges cit(a) deletion of s.68 additions. (Para 5) |
| 5. admission of additional evidence under rule 46a justified. (Para 6 , 7) |
| 6. assessee appeal allowed, revenue appeal dismissed. (Para 8) |
ORDER
PER ANUBHAV SHARMA, JM:
These are appeals preferred by the assessee and revenue against the common order dated 27.06.2025 of the Ld. National Faceless Appeal Centre (NFAC) (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) in DIN & Order No : ITBA/NFAC/S/250/2025-26/1077928804(1) arising out of the order dated 04.08.2021 u/s143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by the NaFAC, New Delhi for AY: 2018-19.
2. Heard and perused the records. The appellant firm is engaged in developing a residential colony under the name and style of “Kanha Green City” situated at Siwaya Jamaullahpur, Daurala, Meerut and assessee’s return was taken up for scrutiny for examination unsecured loans and based upon the reply of
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