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Judgment
This assessee’s appeal for Assessment Year 2019-20, arises against the CIT( A)-27, New Delhi’s DIN & order No. ITBA/APL/M/250/2025-26/1080031658(1) dated 20.08.2025, in proceedings u/s 147 r.w.s. 143(3) of the Income Tax Act, 1961 (in short “the Act”).
Case called twice . None appears at the assessee’s behest. It is accordingly proceeded ex-parte.
Learned departmental representative vehemently argues during the course of hear ing that the Assessing Officer herein had rightly reop ened the assessee’s assessment placed on the investigation wing’s report for the purpose of treating it’ s loan amount of Rs.35,00,000/- as unexplained u/s 69A; in assessment orde r dated 12.02 .2025 as upheld in the lower appellate discussion.
It is in this clinching backdrop that the tribunal sought to verify from the Revenue side as to whe ther the asse ssee has been actually found to have availed any cash entries from the searched party and it’ s associate d entities only. It could hard ly dispute that no such material has seen light of till date. I therefore see no merit in the impugned additio n of Rs.35,00,000/- of the advances g iven (rather than taken) which stands deleted in very terms therefore.
This assessee’s appeal is allowed.