Section 69C Addition Without Proper Enquiry Based Solely on Sales Tax Info Unsustainable: ITAT Mumbai

ITO Vs Vaman International P. Ltd. (ITAT Mumbai)

This case involves an appeal by the Revenue against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] regarding the assessment year 2010-11, where the Assessing Officer (AO) added ₹4,75,42,385/- under section 69C of the Income Tax Act, 1961, treating certain purchases made by Vaman International P. Ltd. as unexplained expenditure. The AO based this decision on information from the Sales Tax Department, which listed the suppliers as providing accommodation entries. The assessee, engaged in fu

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