Judgement

ITAT upheld the PCIT’s Section 263 revision order for the AO’s failure to properly verify suspected bogus purchases and red-flagged suppliers.

ITAT Upholds PCIT's Section 263 Revision Over AO's Incomplete Inquiry into Bogus Purchases

ITAT remands the Rs 32.55 lakh Section 69C addition over alleged bogus purchases to the AO for fresh verification of all supporting documents. 

ITAT Remands Section 69C Unexplained Expenditure Addition After Taxpayer Submits Supporting Documents

ITAT quashes the Section 263 revision over Rs 40.80 crore alleged bogus purchases, holding that the AO had adopted a legally permissible view, and the issue was already pending before CIT(A).

ITAT Quashes Section 263 Revision, Holds PCIT Cannot Invoke Section 263 Where AO Adopted a Plausible View

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.

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ITAT Upholds PCIT's Section 263 Revision Over AO's Incomplete Inquiry into Bogus Purchases

ITAT Remands Section 69C Unexplained Expenditure Addition After Taxpayer Submits Supporting Documents

ITAT Quashes Section 263 Revision, Holds PCIT Cannot Invoke Section 263 Where AO Adopted a Plausible View

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