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ITAT Upholds Section 263 Revision as AO not verified 99% Subcontracting Expenses
Case Law Details
- Case Name
- Nagabhushanam & Co. Vs ITO (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Hyderabad
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Nagabhushanam & Co. Vs ITO (ITAT Hyderabad)
ITAT Hyderabad Upholds PCIT’s Section 263 Revision – 99% Subcontracting Expenses Not Verified by AO- GST Statement Exposed Bogus Subcontracts
Background
Assessee filed ROI (30.10.2018) declaring ₹3.94 Cr income.
Flagged under risk management – AO noted ITC claim of ₹1.12 Cr based on invoices from 3 subcontractors (GJS Infratech, Sri Laxmi Constructions, Roll-on Projects) without actual supply.
AO reopened u/s 147; reassessment completed on 15.02.2023 without any addition.
PCIT invoked s.263 (04.03.2025), holding AO failed to verify gen...
Author Info
