ACIT vs M/s Jagatjit Industries Ltd.

Authority: ITAT Tribunal/Court: Delhi Date: 2026-02-18 AY: 2011-12 Section: 153A, 143(3), 131 Acts: Income Tax Act 1961 Result: Partly Allowed Citation: 426Taxpundit171 Justices: Satbeer Singh Godara, Naveen Chandra Appeal No: ITA 83/DEL/2018
Whether bogus purchase disallowance based on supplier's statement without cross-examination is valid --- Held No, but 5% GP addition sustained; Whether protective addition of rebates/discounts without substantive assessment is permissible --- Held No

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