M/s. K. R. Tradelink Private Limited Vs. Assessing Officer, National e-Assessment Centre, Delhi
Case No: I.T.A. No. 927/Kol/2023
Court: Income Tax Appellate Tribunal, 'C' Bench, Kolkata
Date: 2/5/2024
Parties Involved
appellantM/s. K. R. Tradelink Private Limited
respondentAssessing Officer, National e-Assessment Centre, Delhi
Facts Summary
The assessee, M/s. K. R. Tradelink Private Limited, filed its return of income for AY 2018-19 declaring a total income of Rs.5,94,788/-. The case was selected for manual scrutiny after a survey conducted under section 133A of the Income Tax Act, 1961 on 12.01.2018. During the survey, it was noticed that the company had made bogus purchases. Statutory notices were served on the assessee, but the assessee failed to comply adequately. Consequently, the Assessing Officer (AO) treated the entire purc…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of Rs.5,09,12,631/- by the CIT(A) as made by the AO on account of disallowance of total purchases.