M/s Azvik Glasses Pvt.Ltd. vs Deputy Commissioner Of Income Tax

Per Mahavir Singh, Vice President:

This appeal by the assessee is directed against the order of learned CIT(Appeals), New Delhi dated 30^th June, 2025 in appeal No.NFAC/2017-18/10051458. Assessment in this case was made by the DCIT, Central Circle-32, Delhi vide order dated 19^th April, 2021 passed under Section 143(3) read with Section 144B of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') for the assessment year 2018-19.

The only issue in this appeal of the assessee is as regards the order of learned CIT(A) in upholding the addition made by the Assessing Officer of ₹3,47,50,000/- being share capital issued during the year under consideration invoking the provisions of Section 68 of the Act.

At the time of hearing, learned Counsel for the assessee submitted that the learned CIT(A) has passed an ex-parte order holding that the assessee has not discharged its onus under Section 68 of the Act. He further submitted that due to unavoidable circumstances, the assessee could not trace and produce the relevant records and supporting documentary evidence at the time of assessment and appellate proceedings. However, the same have now been traced and compiled from various sources. The said documents, according to him, are crucial and have a direct bearing on the case and are being filed before the Tribunal vide letter dated 2nd June, 2026. It was, therefore, requested that the said additional evidence may be admitted and the matter be remitted to the Assessing Officer for verification of these documents and evidences for adjudication of the issues afresh in accordance with law.

Learned Senior DR placed reliance on the orders of authorities below. However, she has no serious objection in remanding the matter to the file of the Assessing Officer in view of the additional evidence now filed by the assessee.

After considering the submissions of both the sides and perusing the material placed before us, we admit the said additional documentary evidence now produced by the assessee vide letter dated 2nd June, 2026. Since the said evidence could not be produced by the assessee before the lower authorities due to unavoidable circumstances and, according to it, the same is crucial to the issue involved in the present appeal, in the interest of justice, we deem it appropriate to remand the matter to the file of the Assessing Officer with a direction to decide the same afresh keeping in view the said additional evidence in accordance with law after affording sufficient opportunity of being heard to the assessee. We order accordingly.

In the result, the appeal of the assessee is allowed for statistical purposes.