Judgement

The ITAT Delhi has deleted an addition of Rs 3.92 crore made under Section 69C read with Section 115BBE on account of alleged bogus purchases.

ITAT Rules Mere Doubt Over Supplier's Identity Cannot Override Invoices, E-Way Bills, Bank Records and GST Evidence

Tribunal upholds deletion of additions after finding purchases supported by records and banking transactions.

ITAT Deletes Rs 32 Crore Additions on Alleged Bogus Purchases

The ITAT Delhi has granted partial relief to the assessee by reducing the addition made on alleged bogus purchase transactions.

ITAT Restricts Addition on Alleged Bogus Purchases to 1% GP Rejecting AO’s Adoption of Higher Profit Rate from Subsequent Year

ITAT held that where corresponding sales are accepted, only the profit element embedded in alleged bogus purchases can be taxed, restricting the addition to 8% of the disputed purchases

ITAT Restricts Bogus Purchase Addition to 8% Profit Element, Grants Major Relief to Taxpayer

The Income Tax Appellate Tribunal (ITAT) Mumbai  has upheld the deletion of an addition of Rs 1.07 crore made on account of alleged bogus purchases.

Builder's Purchases Held Genuine Despite Sales Tax Alert; ITAT Deletes Rs. 1.07 Crore Income Tax Addition

ITAT deletes bogus purchases and Section 68 additions and restricts 14A disallowance to exempt income.

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ITAT Rules Mere Doubt Over Supplier's Identity Cannot Override Invoices, E-Way Bills, Bank Records and GST Evidence

ITAT Deletes Rs 32 Crore Additions on Alleged Bogus Purchases

ITAT Restricts Addition on Alleged Bogus Purchases to 1% GP Rejecting AO’s Adoption of Higher Profit Rate from Subsequent Year

ITAT Restricts Bogus Purchase Addition to 8% Profit Element, Grants Major Relief to Taxpayer

Builder's Purchases Held Genuine Despite Sales Tax Alert; ITAT Deletes Rs. 1.07 Crore Income Tax Addition

Civil Contractor Earned Just Rs. 58,229 Dividend Income but Faced Rs. 9.88 Lakh Income Tax Disallowance; Won Relief in ITAT