Assessments Quashed as Blank Letterheads Cannot Form Evidence: ITAT Delhi

RG Home Furnishing Pvt. Ltd. Vs DCIT (ITAT Delhi) Blank Letterheads Are “Dumb Documents”: Delhi ITAT Quashes 153A Assessments & Penalties for Want of Incriminating Materia- Suspicion Cannot Substitute Evidence—153A Additions Based on Blank Letterheads Invalid, ITAT Sets Aside All Years Assessee, part of the Garg Group, was subjected to search on 22.06.2016 & assessments were framed u/s 153A r.w.s. 143(3) alleging bogus machinery purchases from four concerns—Fibretech Enterprises, Zenith Enterprises, Malik International & Supreme International—leading to disallowance of de...