This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Addition on Alleged Inflated Purchases Based Solely on Third-party Data Deleted
Case Law Details
- Case Name
- Indo Plastic Co. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Indo Plastic Co. Vs ACIT (ITAT Delhi)
Addition on Alleged Inflated Purchases Based Solely on Third-party Data Deleted – No Independent Enquiry or Evidence Found Against Assessee
Assessee, a partnership firm engaged in manufacturing automobile components, was assessed u/s 147 based on information from search on M/s Bharat Seats Ltd. (BSL) & M/s Sharda Motor Industries Ltd. (SMIL), where it was alleged that these companies suppressed profits by inflating purchases & returning cash. AO alleged that the Assessee inflated purchases of ₹31.35 lakh (3% of total ₹10.45 crore) & added...
Author Info
