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A retired Income Tax officer lost Rs 51 lakh after cyber fraudsters posed as senior police officials and trapped him in a fake “digital arrest” over a bogus money-laundering case.

Retired Income Tax Officer Loses Rs 51 Lakh in ‘Digital Arrest’ Cyber Fraud

Judgement

The ITAT deleted a Rs. 43.03 lakh tax addition, holding that the AO cannot make ad hoc disallowances of purchases and expenses without identifying specific defects or bogus transactions.

ITAT Deletes Rs. 43.03 Lakh Tax Addition, Says AO Cannot Make Ad Hoc Disallowance of Purchases Without Specific Defects

The ITAT Delhi Holds Profit Addition on Bogus Sales Must Be Reasonable
 


ITAT Restricts Addition on Bogus Sales to Higher of 1% GP or Declared GP

The ITAT Rules that estimated disallowance cannot be made without identifying defective or bogus transactions. 

ITAT Holds Ad Hoc Disallowance of Purchases and Expenses Without Evidence As Unsustainable

The EOW arrested two accused for allegedly using a fake GST-registered company to generate and pass fraudulent ITC worth Rs 4.17 crore. 

EOW Arrests Two Individuals for Using Bogus GST Firm to Generate and Pass Rs 4.17 Crore Bogus ITC

EOW arrests two men for allegedly generating and passing on fraudulent ITC worth Rs 4.17 crore through a fake GST-registered firm.

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Retired Income Tax Officer Loses Rs 51 Lakh in ‘Digital Arrest’ Cyber Fraud

ITAT Deletes Rs. 43.03 Lakh Tax Addition, Says AO Cannot Make Ad Hoc Disallowance of Purchases Without Specific Defects

ITAT Restricts Addition on Bogus Sales to Higher of 1% GP or Declared GP

ITAT Holds Ad Hoc Disallowance of Purchases and Expenses Without Evidence As Unsustainable

EOW Arrests Two Individuals for Using Bogus GST Firm to Generate and Pass Rs 4.17 Crore Bogus ITC

Two Arrested for Generating Rs 4.17 Crore Bogus ITC Through Fake GST Firm