M/S VARDAAN FASHION,NEW DELHI vs. JCIT, NEW DELHI
In the result ground No. 3 of the appeal of the assessee is dismissed
ITA 1143/DEL/2013[2007-08]Status: DisposedITAT Delhi08 Jul 2016AY 2007-08
Bench: I.C.Sudhir & Shri Prashant Maharishivardan Fashions, Jcit, E-1/7, 2Nd Floor, East Patel Range-33, Vs. Nagar, New Delhi New Delhi Pan:Aacfv0423H (Appellant) (Respondent) Acit, Vardan Fashions, Circle-33(1) E-1/7, 2Nd Floor, East Patel Vs. New Delhi Nagar, New Delhi Pan:Aacfv0423H (Appellant) (Respondent)
For Appellant: Sh. Ajay Wadhwa, AdvFor Respondent: Sh. Vijay Verma, CIT DR
Section 142Section 40
section 40A (3) of the act on payment of Rs. 5.43
crores only. That means assessee has made a substantial payment that is almost Rs. 18 crores for purchases of goods through regular banking channel which is acceptable to ld AO. According to us the manner of
Vardaan Fashions
ITA No 1143 & 950/Del/2013
A Y 2007-08
the payment