2025 (11) TMI 909

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....essee is emanating from the order of the NFAC, Delhi in Appeal No. ITBA/NFAC/S/250/2025-26/1079549570(1) dated 12.08.2025 relating to assessment year 2020-21. 2. Heard both the sides and perused the records. 3. Brief facts of the case are that the assessee is a partnership Firm engaged in the business of manufacturing of Automobiles Components. The assessee had filed its return of income for....

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.... its return of income for A.Y. 2020-21 on 07/06/2024. Further, multiple notices were issued and served upon the appellant for furnished various details. In response to that the assessee its submission. During the course of assessment proceedings, the appellant was asked to explain the transaction with M/s. Bharat Seats Ltd., but the assessee failed to explain. On perusal of the information receive....

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....CIT(OSD), Central Circle, New Delhi and relied upon him during assessment proceedings. It was further submitted that Ld. CIT(A) erred in holding that the assessee had made inflated purchases based on third party nothings in the premises of searched party without there being any acknowledgement of the same by the assessee. It was further submitted that the transactions were duly recorded in the boo....

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....t suppression through the inflation of purchases, wherein inflated invoices were raised, and the difference between the actual value and the invoice value was returned in cash to BSL, amounting to Rs. 31,35,185/-, which was unexplained. AO observed that on the basis of above, the assessee, being one of the parties, made inflated purchase amounting to Rs. 31,35,185/- out of total purchases of Rs. 1....