PR. COMMISSIONER OF INCOME TAX - 1 vs M/S AGROHA FINCAP LTD.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 06.10.2025 + ITA 60/2024 PR. COMMISSIONER OF INCOME TAX – 1 .....Appellant versus M/S AGROHA FINCAP LTD. .....Respondent Advocates who appeared in this case For the Appellant : Mr. Vipul Agrawal, SSC with Ms. Sakshi Shairwal, Mr. Akshat Singh, JSCs and Mr. Gaoraang Ranjan and Ms Harshita Kotru, Advs. For the Respondent : Mr. Arvind Kumar, Adv. CORAM: HON'BLE MR. JUSTICE V. KAMESWAR RAO HON'BLE MR. JUSTICE VINOD KUMAR JUDGMENT V. KAMESWAR RAO, J. 1. This appeal has been filed with the following prayers: “(a) To frame the substantial Questions of Law mentioned in Para 2 of the appeal; (b) To frame any other substantial Question of Law which may arise from the impugned order dated 07.07.2023. (c)To set aside the impugned order dated 07.07.2023 of the Ld. ITAT in ITA No. 2859/Del/2022” 2. This appeal is filed against the order dated 07.07.2023 in ITA No. 2859/Del/2022. The Appellant in this appeal is the Principal Commissioner Signature Not Verified Signed By:PRADEEP ITA 60/2024 Page 1 of 15 SHARMA Signing Date:06.10.2025 15:05:26 of Income Tax-1 and has filed the present appeal under Section 260A of the Income Tax Act, 1961 (‘the Act’, hereafter). 3. The Appellant in their assessment order dated 28.11.2016 had recorded that the Respondent/Assessee was incorporated on 28.08.1995. The business of the Assessee for the Assessment Year (‘AY’, hereafter) 2009-10 was not mentioned and when the Respondent/Assessee filed its return of income on 22.09.2009 for the AY 2009-10, it had declared its income as Rs. 40,720/-, which was then processed under Section 143(1) of the Act. This Income was not selected for regular scrutiny. After the return of income was processed, on 30.10.2010 the Appellant received information f