ITAT Delhi held that as per section 144C(13) of the Income Tax Act final assessment order is to be passed within one month from the end of the month in which directions issued by DRP is received by AO ...
Delhi ITAT ruled that where sales are accepted, full purchase disallowance is unjustified. Citing Bombay HC, it restricted the addition for bogus purchases of Rs. 23.5 Cr to 12.5% profit element.
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