Allowing the appeal of the revenue the Court held that, the assessee could not establish the genuineness of purchases hence the Tribunal was not justified in deleting the addition. Followed CIT v La Media (2001) 250 ITR 575 (Delhi) (HC) & CIT v Divine leasing & Finance Ltd (2008) 299 ITR 268 (Delhi ) (HC) (AY. 2010-11)
PCIT v. Wadhawan Designs (2019) 184 DTR 299/(2020) 313 CTR 173 (Delhi)(HC)
S. 68 : Cash credits–Genuineness of purchases could not be established – Addition as cash credit is held to be justified.