Sh. Mahesh Chand Vs. Income Tax Officer, Delhi
Parties Involved
Facts Summary
The assessee, Sh. Mahesh Chand, is engaged in the business of advertising and printing. The appeal arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre's order treating the assessee's unexplained expenditure towards 'purchases' of Rs.13,23,420/- in AY 2019-20, sourced from M/s. Metrix Industries, as bogus under section 69C of the Income-tax Act, 1961. The assessee challenges this disallowance, arguing that his purchases from unregistered dealers should not be considered bogus. The corresponding sales of the assessee have not been questioned in the lower proceedings.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the expenditure of Rs.13,23,420/- towards 'purchases' from M/s. Metrix Industries should be treated as bogus under section 69C of the Income-tax Act, 1961.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
6 precedents cited in this judgement.
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