Deputy Commissioner of Income Tax Central Circle vs. Sterling Agro Industries Limited

Parties Involved

Facts Summary

The assessee filed its return of income for A.Y. 2015-16 declaring total income of Rs.22,91,10,290/-. The Revenue initiated proceedings u/s 147 of the Act and issued a notice u/s 148 of the Act dated 27-07-2022. The Assessing Officer completed the assessment after making an addition of Rs.3,15,05,731/-. The assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal. The Revenue filed an appeal before the tribunal, and the assessee filed a cross objection.…

Legal Issues

• 1. Addition of bogus purchases of rice husk

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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