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TMI Blog2025 (2) TMI 333X X X X Extracts X X X X X X X X Extracts X X X X ..... -15) (Revenue) "1. The order of Ld. CIT(A) is not correct in law and facts. ii. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of Rs. 15,23,00,000/- made by the assessing officer in view of the unexplained credits in the books of accounts of the assessee. iii. On the facts and in the circumstances of the CIT(A) has erred in deleting the addition made by the assessing officer on account of unexplained credits when the assessee had failed to discharge it's onus w.r.t. the source of credits in books of accounts and could not explain & substantiate the same during the course of assessment proceedings. iv. The appellant craves for leave to add, amend any/all the ground of appeal b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been made in the hands of ultimate beneficiary i.e. M/s Surya Agrotech Infrastructure Ltd., further an addition of Rs. 38,07,500/- has been made in the hands of the Assessee on account of unexplained expenditure on commission. Aggrieved by the assessment order dated 28/12/2017, the Assessee preferred an appeal before the Ld. CIT(A). The Ld. CIT(A) vide order dated 07/01/2019, deleted the protective addition of Rs. 15,23,00,000/-made on account of unexplained credits in the books of accounts of the Assessee and confirmed the addition of Rs. 38,07,500/- made on account of commission income. 5. Aggrieved by the order of the Ld. CIT(A) in deleting the protective addition of Rs. 15,23,00,000/-made on account of unexplained credits in the b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014-15 in the case of M/s Surya Agrotech Infrastructure Pvt. Ltd. is justified whereas, in the facts and circumstances of the case, the protective addition of Rs. 15,23,00,000/- in the hands of the appellant company is not justified and therefore deleted. Ground No. 2 is accordingly allowed." 8. It is also brought to our notice by the Ld. Department's Representative that the substantial addition which was made in the hands of M/s Surya Agrotech Infrastructure Ltd. which has been challenged before the Co-ordinate Bench of the Tribunal in ITA No. 1158/Del/2019. The Co-ordinate Bench of the Tribunal considering the fact that the income has already been taxed in the hands of M/s Surya Food &Agro Ltd., held that the application of the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee has repeatedly stated, which we have already mentioned above while reproducing the relevant portion of the application before the Settlement Commission, that the undisclosed income which is being offered before the Settlement Commission has been applied by way of introduction in the shape of share capital to group entities viz., M/s Surya Processed Food Pvt.Ltd. and M/s Surya Agrotech Infrastructure Limited. In paragraph 15 of the application before the Settlement Commission, M/s Surya Food & Agro Limited has made it clear that "there is no other undisclosed asset found or application of funds by the group". This statement made before the Settlement Commission has neither been found to be incorrect nor before us it has been shown that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that the income has already been taxed in the hands of Surya Food & Agro Ltd., we find no error or infirmity in the order of the Ld. CIT(A) in deleting the protective addition made in the hands of the Assessee. Accordingly, finding no merits in the Grounds of Appeal of the Revenue, we dismiss the same. 10. In the result, Appeal of the Revenue is dismissed. ITA NO. 2205/Del/2019 11. The only grievance of the Assessee is in the present Appeal is against upholding the addition of Rs. 38,07,500/-made u/s 37 of the Act on account of unexplained expenditure on commission. The Ld. CIT(A) while upholding the said addition held as under:- "5.4. With regard to Ground No. 3 I hold that the action of the A.O. in making addition of Rs. 38,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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