PR. COMMISSIONER OF INCOME TAX, CENTRAL - II, NEW DELHI vs M/S GLOBE CAPITAL MARKET LTD.

IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision : 07.04.2026 ITA 364/2024 PR. COMMISSIONER OF INCOME TAX, CENTRAL - II, NEW DELHI .....Appellant Through: Mr. Vipul Agrawal, SSC, Mr. Lakshi Shriwal, JSC, Ms. Harshita Kotru and Mr. Gaoraang Ranjan, Advs. versus M/S GLOBE CAPITAL MARKET LTD. .....Respondent Through: Mr. Sumit Lalchandani and Ms. Ananya Kapoor, Advs. CORAM: HON'BLE MR. JUSTICE DINESH MEHTA HON'BLE MR. JUSTICE VINOD KUMAR JUDGMENT REPORTABLE Per DINESH MEHTA, J. (Oral) 1. The order under challenge is the one, passed by the Income Tax Appellate Tribunal Delhi Bench “F”: New Delhi (hereinafter referred to as ‘the Tribunal’) whereby the appeal filed by the Income Tax Department against the order dated 30.01.2023 passed by the Commissioner of Income Tax (Appeals) (hereinafter referred to as ‘CIT(A)’) was rejected. 2. The appeal before the CIT(A) was preferred by an assessee engaged in the business of share broking and clearing of trades, in which case, during the course of assessment proceedings under section 153A of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act of 1961’), the Assessing 1961. 3. The AO found that during the AY 2018-19, the assessee