Addl. CIT, Special Range-7, New Delhi vs PEC Ltd. & PEC Ltd. vs DCIT, Circle-19(2), New Delhi

Parties Involved

Facts Summary

The Revenue’s and the assessee’s appeals arise against the CIT(A)-38, New Delhi’s orders dated 08.01.2018 and 25.06.2019 passed in case No.83/2017-18 and 353/2018-19, in proceedings u/s 143(3) r.w.s. 147 and u/s 143(3) of the Income Tax Act, 1961. The cases were called twice, and none appeared at the assessee’s behest, thus proceeding ex-parte against the assessee. The Revenue argued that the CIT(A) erred in reversing the assessment findings adding an amount of Rs.2,50,22,861/- in the assessee’s hands as under invoicing of income. The assessee argued that the lower authorities erred in making under invoicing of sales addition amounting to Rs.1,61,60,979/-.…

Legal Issues

• 1. Addition of Rs.2,50,22,861/- as under invoicing of income
• 2. Addition of Rs.1,61,60,979/- as under invoicing of sales

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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