Unexplained Expenditure Addition Merely Based On CBIC Instruction Not Sustainable: Delhi High Court
7 months, 1 week ago

Unexplained Expenditure Addition Merely Based On CBIC Instruction Not Sustainable: Delhi High Court

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The Delhi High Court has deleted the addition for unexplained expenditure, which was based on the instruction issued by the Central Board of Indirect Taxes and Customs.“Merely proceeding on the basis that CBIC is an apex body and therefore, information provided by it cannot be doubted, without even identifying or meaningfully analyzing such information, is wholly insufficient to. The Delhi High Court has deleted the addition for unexplained expenditure, which was based on the instruction issued by the Central Board of Indirect Taxes and Customs. The Assessing Officer based the conclusion entirely on the information received from the Central Board of Indirect Taxes and Customs to the effect that the goods purchased or imported by the assessee during the relevant previous year were worth Rs. The Assessing Officer had faulted the assessee for not reconciling the information regarding the quantum of purchases made as received from CBIC with that as disclosed by the assessee.

History of this topic

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