M/s. Anar Oils Pvt. Ltd. vs ITO Ward 2(1)

These assessee/appellant herein; a company namely, Anar Oils Pvt. Ltd, has filed all these nine appeals against ITA Nos. 7332/Del/2025; A.Y.: 2011-12, 7342/Del/2025; A.Y.: 2013-14, 7343/Del/2025; A.Y.: 2012-13, 7350/Del/2025; A.Y.: 2010-11, 7353/Del/2025; A.Y.: 2009-10, 7356/Del/2025; A.Y.: 2013-14, 7357/Del/2025; A.Y.: 2012-13, 7358/Del/2025; A.Y.: 2010-11, 7359/Del/2025; A.Y.: 2011-12; the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s orders, all dated 14.08.2025 passed in case nos. CIT(A), Delhi- 1/10770/2016-17, CIT(A), Delhi-1/10774/2016-17, CIT(A), Delhi- 1/10772/2016-17, CIT(A), Delhi- 1/10769/2016-17, CIT(A), Delhi- 1/10755/2016-17, CIT(A), Delhi- 1/10775/2016-17, CIT(A), Delhi- 1/10773/2016-17, CIT(A), Delhi- 1/10756/2016-17, CIT(A) & Delhi-1/10771/2016-17, involving proceedings under section 271(d) and 271(e) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’), respectively.

Heard both the parties at length. Case files perused.

The assessee’s identical delay of 15 days each in all these cases is hereby, condoned as per its averments explaining reasons therein to circumstances beyond control which have gone un-resulted from the revenue side.

It transpires at the outset that both the learned lower authorities’ respective penalty(ies) and lower appellant findings have held the assessee/appellant to have violated section 269SS and 269ST; as the case may be whilst accepting and repaying the corresponding cash loans involving varying sums, without any sufficient cause, respectively.

It is in this identical factual backdrop that we sought to ascertain the assessee’s impugned cash loans accepted and repaid which have been held to have not complied with the legislative mandate u/s 269SS and 269ST of the Act. The Revenue takes us to assessee’s “lead” case ITA No. 7535/Del/2025 for Assessment Year 2009-10 wherein it is evident that he had gone by the DDIT (Investigation)’s letter that it was an instance of cash loan receipts from Shri Asharam Bapu through his alleged agent Sh. Sant Lal Agarwal. We will be failing in our duty if it is further not made clear that apart from the said information, there is not even a single evidence on record either in the assessee’s books or otherwise, as the case may be, which could prove the said alleged cash loans accepted and repaid in the various assessment years herein.

Faced with this situation, we are unable to concur with both the learned lower authorities’ respective findings holding the assessee having accepted and repaid the impugned loans in cash thereby violating section 269SS and 269ST of the Act in all these cases. The impugned corresponding penalties involving varying sums u/s 271D & 271E of the Act stand deleted for this precise reason therefore. The assessee’s succeeds in all of its nine appeals in very terms.

The assessee’s nine appeals i.e., ITA Nos. 7332, 7342, 7343, 7350, 7353, 7356, 7357, 7358, 7359/Del/2025; are allowed in the foregoing terms. A copy of this common order be placed in the respective case files.