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, 2026
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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.
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Meetu Kumari
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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.
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