ITAT Restricts Bogus Purchase Addition to Profit Element, Deletes Loan Addition:
Ahmedabad ITAT held entire purchases cannot be disallowed when sales are accepted and deleted unsecured loan addition.
Accepted Aales Negate Full Bogus Purchase Addition; Genuine Loan Evidence Defeats Section 68 Addition
Meetu Kumari
Jul 19, 2026Premium
ITAT Restricts Bogus Purchase Addition to Profit Element, Deletes Loan Addition
Ahmedabad ITAT held entire purchases cannot be disallowed when sales are accepted and deleted unsecured loan addition.
Also Read
ITAT Remands Bad Debt, 80G Claim and Penalty Issues for Fresh Adjudication ITAT Orders Fresh Assessment After Accepting Insolvency-Related Delay and Non-ComplianceITAT Allows Standard Chartered's Expatriate Salary and Direct Cost Claims Section 271B Penalty Is Unsustainable Since AO Considered Tax Audit Report Before Completing Reassessment, Holds ITAT
About Author
Meetu Kumari
Content Manager
Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
Studycafe
Jodhpur, Rajasthan, India
2239My Recent Articles
- High Court Upholds GST Order Issued Within Limitation Despite Next-Day Portal UploadPremium
- High Court Grants Liberty to Challenge GST Tax Demand Before Seeking Registration RevocationPremium
- High Court Denies Bail in Alleged Cyber Fraud and Crypto Transaction CasePremium
- ITAT Allows Section 54F Relief Without Completion Certificate for New House ConstructionPremium
- HC Sets Aside GST Registration Revocation Rejection Over Procedural Lapse.Premium
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts