This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Mere suspicion of fraud or lower GP cannot trigger Section 145(3) or 40A(2)(b) disallowances
Case Law Details
- Case Name
- DCIT Vs Global Agro Corp (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
DCIT Vs Global Agro Corp (ITAT Delhi)
No Defects, No Additions – From Bogus Sales to 40A(2)(b): AO’s Suspicion vs Evidence — ITAT Finds Books Reliable, Deletes All Additions
In this Revenue appeal against Global Agro Corp, a rice exporter, Tribunal examined multiple additions made by AO in assessment u/s 143(3). Assessee had filed return declaring income of ₹66.28 lakh. AO made four major additions: ₹1.57 crore as bogus cash sales u/s 68, ₹4.81 crore as trading addition by estimating higher GP, ₹1.90 crore disallowance of commission u/s 40A(2)(b), & ₹...
Author Info
