Merely filing of VAT returns cannot be held to establish genuineness of transaction

Mahalaxmi Dye India Pvt. Ltd Vs ACIT (Delhi High Court)

A perusal of the paper book reveals that during the investigation it has been found that M/s Seema Enterprises is not involved in any real business and hence the contention of the learned counsel for the petitioner that it made payments in the course of business was not accepted. Further, in the impugned order the Assessing Officer has specifically recorded that the proprietor Smt. Seema Gupta has accepted that her firm was not engaged in real business activities. This

Please become a Premium member. If you are already a Premium member, login here to access the full content.