Delhi HC Quashes Reassessment Order Over Bogus Purchase Claims

Luv Impex Private Limited Vs ITO (Delhi High Court) In a recent judgment, the Delhi High Court addressed a case involving allegations of bogus purchase entries and the denial of expense claims by an assessee. The court’s ruling focused on the need for corroborative evidence and a proper defense for the taxpayer. This article provides an overview of the case, the court’s analysis, and its decision to quash the reassessment order. 1. Petitioner’s Challenge: The case under consideration pertains to a writ petition (W.P.(C) 11071/2023) filed by Luv Impex Private Limited, challeng...