Dismissing the appeal the court held that motivation is not the basis for attracting the provisions of the Act, if otherwise, an assessee does not fall within its net, is a well-established principle. Order of Tribunal deleting the addition is affirmed. (AY.2012-13 to 2017-18)
PCIT. v. Agson Global (P) Ltd. (2022) 441 ITR 550 / 210 DTR 225 / 325 CTR 1 / 286 Taxman 519 (Delhi)(HC)
S. 68 : Cash credits-Cash deposited in bank-Dematerialisation-Deletion of addition is-Rejection of books of account-Gross profit-Order of Tribunal is up held-Not challenged being perverse-No substantial question of law. [S. 145 (3), 260A]