PR COMMISSIONER OF INCOME TAX-I, JALANDHAR vs. M/S SUPERTECH FORGINGS PVT LTD

Appeal is dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

bogus purchases were reflected by the statements of Sh. Madan Lal Pahuja and Jatinder Kumar before the Investigating Wing, Ludhiana. The respondent-assessee filed objections to the notice under Section 148 of the Act, 1961. The Assessing Officer, being not satisfied with the assessee reply, disallowed the entire purchases amounting to Rs.4,26,93,470/- holding as unverifiable purchases from