Avance Technologies Limited Vs ACIT, Central Circle – 2(2), Mumbai
Case No: ITA No. 5420/MUM/2025
Court: INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, MUMBAI
Date: 1/2/2026
Parties Involved
appellantAvance Technologies Limited
respondentACIT, Central Circle – 2(2), Mumbai
Facts Summary
The assessee company, Avance Technologies Limited, filed its return of income for A.Y. 2017-18 declaring income of Rs. 17,43,210/-. The case was selected for complete scrutiny. The assessing officer noted that the assessee-company is part of the Shirish C. Shah group, which was involved in providing accommodation entries. The assessing officer identified sales and investments that were deemed to be bogus and added commission income accordingly. The assessee made cash deposits during the demoneti…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of orders passed by AO and CIT(A)
- 2. Addition of commission income on sales
5 more legal issues analysed in this judgement.
Precedents Relied Upon
3 precedents cited in this judgement.