ACIT Vs Vrinda Farms Private Limited (ITAT Delhi)
ITAT Delhi upholds deletion of ₹1.83 crore addition on alleged bogus loans – rejects Revenue’s reliance on WhatsApp chats & search statements
Delhi Tribunal dismissed Revenue’s appeal & upheld CIT(A)’s order deleting additions u/s 68 of ₹1.83 crore and related disallowances of ₹7.74 lakh (interest) & ₹2.23 lakh (commission).
AO had treated unsecured loans from five NBFC-type entities (including R.N. Khemka Enterprises Pvt Ltd, Savita Holdings Pvt Ltd, Fidus Finance Pvt Ltd) as accommodation entries, relying on search statements & WhatsApp chats of alleged entry operator Ankit Bhageria. CIT(A) deleted the additions after noting that all lenders were assessed to tax, filed audited accounts, bank statements & confirmations, and AO failed to show any cash trail or nexus between seized material & assessee’s loans.
Tribunal observed that the issue was identical to Filatex India Ltd (group company) decided by the same Bench (ITA No.2060/Del/2024, order dated 30-06-2025), where similar loans from the same entities were held genuine. It reiterated that retracted statements & uncorroborated WhatsApp messages cannot override documentary evidence, and that repayments & TDS deduction on interest further proved genuineness.
Accordingly, ITAT affirmed deletion of the entire ₹1.83 crore addition, interest & commission, holding that suspicion cannot replace proof.
