Addition for Bogus Sale Upheld as Assessee Failed to Prove Genuine Transactions: Jharkhand HC

Vaishnavi Agro Vs ITO (Jharkhand High Court) The appeal was filed before the Jharkhand High Court under Section 260-A of the Income Tax Act, 1961 challenging three orders: the assessment order dated 29.12.2006 passed by the Income Tax Officer, Ward-III(I), Deoghar; the appellate order dated 14.03.2013 passed by the Commissioner of Income Tax (Appeals), Dhanbad; and the order dated 04.11.2015 passed by the Income Tax Appellate Tribunal, Ranchi Circuit Bench. These authorities had added and confirmed an addition of ₹11,04,165 to the appellant’s returned income. Counsel for the appellant argu...