ITA No.3055/Del/2025 Omax Autos Ltd.(AY: 2020-21)
Case No: ITA No.3055/Del/2025
Court: INCOME TAX APPELLATE TRIBUNAL, 'C' BENCH, DELHI
Date: 1/14/2026
Parties Involved
appellantDCIT
respondentOmax Autos Ltd.
Facts Summary
The assessee, Omax Autos Ltd., is a company engaged in manufacturing auto and non-auto components. For the assessment year 2020-21, the company filed its return of income declaring an income of Rs. 26,89,05,610/-. The return was selected for complete scrutiny, resulting in an assessment order dated 23.09.2022, which assessed the total income at Rs. 1,25,74,38,095/-. Aggrieved by this order, the assessee filed an appeal before the CIT(A), which was partly allowed. The revenue then filed this appe…
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance on account of unverified deduction amounting to Rs. 58,16,56,473/-
- 2. Disallowances on account of unexplained and unverified expenses on account of Trade advances written off amounting to Rs. 13,47,90,887/-
4 more legal issues analysed in this judgement.
Precedents Relied Upon
11 precedents cited in this judgement.