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Borrowed Satisfaction Vitiates Reassessment – ITAT Quashes Reopening in Case of Alleged Bogus Purchases
Case Law Details
- Case Name
- Sumit Chhabra Vs Assessment Unit (ITAT Delhi)
- 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 Delhi
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Sumit Chhabra Vs Assessment Unit (ITAT Delhi)
Borrowed Satisfaction Vitiates Reassessment – ITAT Quashes Reopening in Case of Alleged Bogus Purchases
In cross appeals by Assessee & Revenue, Delhi ITAT dealt with reassessment initiated on the allegation that Assessee had taken accommodation entries of bogus purchases from M/s KB Enterprises amounting to ₹2.37 crore during FY 2017-18. The original return was filed declaring ₹18.15 lakh, which was already scrutinized & accepted u/s 143(3) by NFAC in April 2021. However, based on information from Investigation Wing regarding accommod...
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