Addition on Foreign Remittance Set Aside Due to Failure to Examine Evidence: ITAT Delhi

HPC Infotech Private Limited Vs ITO (ITAT Delhi) In HPC Infotech Private Limited Vs ITO (ITAT Delhi), the appeal was filed against the order of the Commissioner of Income Tax (Appeals) dated 07.11.2025 for Assessment Year 2019–20. The assessee, engaged in import, distribution, and trading of UHF RFID tags and readers, had made foreign remittances amounting to Rs. 23,26,982/- during the relevant financial year to suppliers in China and the USA for procurement of inventory. These remittances were made through authorized banking channels and were not disputed in terms of business nature or purp...