AXIS INFOLINE P. LTD. vs PRINCIPAL COMMISSIONER OF INCOME TAX
Case No: ITA No.2613/Del/2025
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘B’ NEW DELHI
Date: 1/2/2026
Parties Involved
appellantAXIS INFOLINE P. LTD.
respondentPRINCIPAL COMMISSIONER OF INCOME TAX
Facts Summary
This appeal arises from an order dated 26.03.2025, passed under section 263 of the Income Tax Act, 1961, by the Learned Principal Commissioner of Income Tax (PCIT), Delhi. The Assessing Officer (AO) found certain purchases made by the assessee, Axis Infoline P. Ltd., from M/s Diwakar Enterprises amounting to Rs.1,49,86,000/- to be bogus. The AO disallowed 25% of these purchases. The PCIT, however, held that 100% of the bogus purchases deserved to be disallowed and revised the AO’s order. Aggriev…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the order passed by the PCIT under section 263 of the Act is erroneous and prejudicial to the revenue.
- 2. Whether the PCIT violated principles of natural justice by not providing the assessee a reasonable opportunity to be heard.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
8 precedents cited in this judgement.