ITAT Delhi Quashed Reassessment for Borrowed Satisfaction & No Live Nexus

JHS Svendgaard Laboratories Ltd. Vs DCIT (ITAT Delhi) Borrowed Satisfaction Exposed: ITAT Quashes Reassessment and Deletes Bogus Sales & Purchase Additions The Delhi Bench “E” of the ITAT, in JHS Svendgaard Laboratories Ltd. v. DCIT (AY 2018-19), allowed the assessee’s appeal in full, quashing the reassessment itself and deleting additions on alleged bogus sales commission and selective bogus purchases. The reassessment was initiated on the basis of Investigation Wing inputs alleging accommodation entries of ₹5.52 crore, purportedly involving M/s Veekay Enterprises and certain inte...