Bench: Justice (Retd.) C.V. Bhadang(), Shri Mahavir Singh & Shri Brajesh Kumar Singh[Assessment Year: 2012-13] Mahesh Kumar, Vs Ito, 6/305/1A, Doonger Ward-68(6), Mohalla, Delhi-110032. Delhi. Pan-Aoopk6335A Appellant Respondent Appellant By Shri Neeraj Mangla, Ca Respondent By Shri Krishna K. Ramawat, Sr. Dr Date Of Hearing 06.08.2025 Date Of Pronouncement 06.08.2025
bogus contract notes, showing the purchases long time back on a fictitious date. The sales consideration was reduced by concerned cost of acquisition and the gains claimed as exempt. In case of loss, such loss is set off against the taxable profits. Thus unaccounted money was brought into the books by fictitious and sham transactions and evading due taxes. This