Shiv Cotex India (P) Ltd. v. DCIT

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The Tax Publishers2024 TaxPub(DT) 638 (Del-Trib) : (2024) 109 ITR (Trib) 0594 IN THE ITAT DELHI SAKTIJIT DEY, V.P. & M. BALAGANESH, A.M. Shiv Cotex India (P) Ltd. v. DCIT ITA No. 2134/Del/2022 4 December, 2023 Assessee by: Piyush Kaushik, Advocate Revenue by: Aashish Mohanty, CIT-DR ORDER This is an appeal by the assessee against order dated 30-6-2022 of learned Commissioner of Income-tax (Appeals)-3, Gurgaon for the assessment year 2017-18. 2. The grounds raised by the assessee are as under : 1. That on the facts and circumstances of the case and in the Law, the Commissioner (Appeals) had grossly erred in confirming additions of Rs. 8,08,920 on account of unexplained investment; Rs. 3,12,882 on account of unexplained purchases; Rs. 2,80,000 on account of unexplained investment; Rs. 3,99,571 on account of unexplained investment in excess stock; Rs. 12,43,925 on account of unexplained investment; Rs. 1,64,830 on account of unexplained investment; Rs. 7,45,824 on account of undisclosed income; Rs. 2,88,478 on account of undisclosed income; Rs. 2,58,160 on account of profit from undisclosed income & Rs. 11,46,899 on account of undisclosed income in the hands of assessee company. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2024 TaxPub(DT) 638 (Del-Trib) : (2024) 109 ITR (Trib) 0594

IN THE ITAT DELHI

SAKTIJIT DEY, V.P. & M. BALAGANESH, A.M.

Shiv Cotex India (P) Ltd. v. DCIT

ITA No. 2134/Del/2022

4 December, 2023

Assessee by: Piyush Kaushik, Advocate

Revenue by: Aashish Mohanty, CIT-DR

ORDER

This is an appeal by the assessee against order dated 30-6-2022 of learned Commissioner of Income-tax (Appeals)-3, Gurgaon for the assessment year 2017-18.

2. The grounds raised by the assessee are as under :

1. That on the facts and circumstances of the case and in the Law, the Commissioner (Appeals) had grossly erred in confirming additions of Rs. 8,08,920 on account of unexplained investment; Rs. 3,12,882 on account of unexplained purchases; Rs. 2,80,000 on account of unexplained investment; Rs. 3,99,571 on account of unexplained investment in excess stock; Rs. 12,43,925 on account of unexplained investment; Rs. 1,64,830 on account of unexplained investment; Rs. 7,45,824 on account of undisclosed income; Rs. 2,88,478 on account of undisclosed income; Rs. 2,58,160 on account of profit from undisclosed income & Rs. 11,46,899 on account of undisclosed income in the hands of assessee company.