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2020 (1) TMI 354 - AT - Income TaxBogus LTCG - unexplained cash credit u/s 68 r.w.s. 115 BBE - HELD THAT:- After going through the facts and circumstances of the present case and the judgment of the Hon’ble Delhi High Court in the case of Udit Kalra vs. ITO [2019 (4) TMI 834 - DELHI HIGH COURT] wherein has declared M/s Kappac Pharma as bogus company who made only accommodation entries in which the assessee is a beneficiary. Therefore, no other option except to follow the decision of the Hon’ble Delhi High Court, because no other contrary judgment has been produced by the Ld. Counsel for the assesee. Accordingly, following the aforesaid precedent, uphold the well reasoned order of the Ld. CIT(A) and decide the issue in dispute against the Assessee by dismissing the appeal of the assessee.
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