ITA No. 4161/MUM/2016

Parties Involved

Facts Summary

The case involves an appeal by the Deputy Commissioner of Income Tax against an order passed by the Commissioner of Income Tax (A)-6, Mumbai, which had decided the appeal of the assessee against the Assessment Order, dated 28/03/2014, passed under Section 143(3) of the Income Tax Act, 1961. The Revenue raised grounds of appeal regarding the deletion of additions made by the Assessing Officer due to non-genuine purchases booked by the assessee. The appeal was dismissed as infructuous due to a resolution plan approved by the National Company Law Tribunal, Mumbai Bench, Court II, which extinguished all past liabilities arising out of any levies/tax dues to any government authority pertaining to the pre-corporate insolvency resolution process period.…

Legal Issues

• 1. Deletion of addition of Rs.2,13,34,684/- made by the Assessing Officer by enhancing the gross profit of the assessee on the basis of non-genuine purchases booked by the assessee.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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