Court :
ITAT Indore
Brief :
This appeal by the Revenue is directed against the order of ld. Commissioner of Income Tax (Appeals)(in short ‘Ld. CIT(A)-II, Indore dated 21.08.2019 pertaining to assessment year 2010-11. The assessee has raised following grounds of appeal:
Citation :
ITA No.931/Ind/2019
IN THE INCOME TAX APPELLATE TRIBUNAL
INDORE BENCH, INDORE
BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER
AND
SHRI MANISH BORAD, ACCOUNTANT MEMBER
ITA No.931/Ind/2019
Assessment Year:2010-11
DCIT-3(1)
Indore
(Revenue)
P.A. No.ABZPD1724G
Vs.
Shri Manoj Daga,
Indore
(Respondent )
Revenue by Shri Ashish Porwal, Sr. DR
Respondent by Shri S.N. Agrawal, CA
Date of Hearing: 09.11.2020
Date of Pronouncement: 08.01.2021
O R D E R
PER KUL BHARAT, J.M:
This appeal by the Revenue is directed against the order of ld. Commissioner of Income Tax (Appeals)(in short ‘Ld. CIT(A)-II, Indore dated 21.08.2019 pertaining to assessment year 2010-11. The assessee has raised following grounds of appeal:
“1. Whether on the facts and in the circumstances of the case,the Ld. CIT(A) was justified in deleting the addition ofRs.90,00,000/- on account of bogus incurred loan u/s 68 and Rs.1,18,330/- on account of interest paid thereon as bogus loanare received from M/s. Purvi finvest Ltd., M/s. East West Finvest Ltd. and M/s. Trimurti Finvest Ltd, who have procuredbogus share application money/premium from the papercompanies of Kolkata and thereafter advances loan to theassessee and also many persons/entry/companies as per enquiries carried out through investigation Wing Kolkata.
2. Whether on the facts and in the circumstances of the case, The Ld. CIT(A) was justified in deleting the additions of Rs.90,00,000/- + interest of Rs.1,18,330/- inspite of specific findings of the Assessing Officer in the assessment order.
3. The appellant craves leave to add to or deduct from or otherwise amend the above grounds of appeal.”
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