Held, that the Commissioner (Appeals) had considered the quantitative details, stock and the payment made by the assessee with regard to the purchases, the retraction statement of the entry provider and deleted the addition. Therefore, the order of the Commissioner (Appeals) could not be interfered with. (AY.2013-14, 2014-15)
ACIT v. PC Jewellers Ltd. (2022) 93 ITR 244 (Delhi)(Trib.)
S. 37(1) : Business expenditure-Bogus purchases-Purchase of diamond though commission agent-Identity and genuineness is established-Deletion of addition is held to be proper.