VIJAY STEELS,AMROHA vs. ITO, WARD 1(1), MORADABAD

Asstt. Year : 2022-23 Vijay Steels, Vs Income Tax Officer, Kanth Road, Amroha, Ward-1(1), Uttar Pradesh-244221 Moradabad, U.P.-244001 (APPELLANT) (RESPONDENT) PAN No. AAHFV5468Q Assessee by: Sh. Rohit Agarwal, CA Revenue by : Sh. Manoj Kumar, Sr. DR Date of Hearing: 26.08.2025 Date of Pronouncement: 26.08.2025 ORDER This assessee’s appeal for Assessment Year 2022-23, arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2025-26/1076170350(1) dated 13.05.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).

Vijay Steels 4. This being the clinching factual position, the tribunal is of the considered view that although no fault could be found in the learned lower authorities identical action in principle, the facts however remains that treating the entire sales as bogus u/s 68 than only the profit element embodied therein, could not be per se sustainable in law and the only inference which would arise in such an instance would be that of clandestine sales made out of books to other parties. Be that as it may, it is thus deemed appropriate in the peculiar factual backdrop that a lump sum addition of Rs.1,50,000/- representing the assessee’s GP element would be just and proper with a rider that the same shall not be treated as a precedent. Necessary computation shall follow as per law.