Centurion Laboratories Pvt. ... vs The Acit, Circle-1(1)(1), Vadodara on 11 February, 2026
9.1. Despite the availability of such primary evidences, the
Assessing Officer has not conducted any independent enquiry to
disprove the genuineness of the transactions and has proceeded to
make the addition solely on the basis of the Investigation Wing
report. It is further noted that the books of account of the assessee
have not been rejected under section 145(3) of the Act. The gross
profit embedded in the purchases already stands reflected in the
returned income and therefore, making a separate addition of the
same results in double taxation, which is impermissible in law.
Accordingly, on both jurisdictional as well as on merits of the case,
I.T.A No. 2292/Ahd/2025 A.Y. 2019-20 10
Centurion Laboratories Pvt. Ltd. Vs. ACIT
the reassessment order and the consequential addition cannot be
sustained.