2025 (3) TMI 1089

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..... l position and faulted the manner in which the assessment was completed by observing that it was a cryptic order without discussing the facts of the matter nor the submissions made by the assessee nor the documents produced by the assessee to prove the three factors, namely, identity, genuineness of the transactions and creditworthiness of the subscribers. Tribunal also found that though such doc .....

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..... the genuineness of the transaction and creditworthiness of the subscribers - Decided against revenue.
HON'BLE THE CHIEF JUSTICE T.S. SIVAGNANAM AND HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS) Appearance: For Appellant/revenue: Mr. Om Narayan Rai, Sr. Adv. Mr. Prithu Dudhoria, Adv.   For the Respondent: None. THE COURT :   1. This appeal by the assessee filed under Section 260A o .....

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..... genuineness of the transaction clearly warranted addition in terms of section 68 of the Income Tax Act, 1961 ?" 2. We have heard Mr. Om Narayan Rai, learned senior Advocate, assisted by Mr. Prithu Dudhoria, learned Advocate appearing for the appellant/revenue. 3. Though notice has been served upon the respondent, none appears for the respondent. 4. The issue which falls for consideration is w .....

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..... the CIT(A), but the same were not referred to nor any defect or discrepancy was pointed out under the said documents. Apart from that, the learned Tribunal has also pointed out that there are factual mistakes by the CIT(A) while passing the order which are contrary to the conclusion arrived at by the Assessing Officer. Learned Tribunal took note of the decision of the Hon'ble Supreme Court in PCI .....

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..... o in the instant case. The revenue cannot deny the fact that the order of assessment, as observed by the learned Tribual, is a cryptic order. 5. Thus, we find no question of law, much less substantial questions of law, arising for consideration in this appeal. 6. Accordingly, the appeal fails and is dismissed. 7. The stay application IA No : GA/1/2025 is also dismissed.
Case laws, Decisions .....

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