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Only Profit on Bogus Purchases Taxable – Full Disallowance Unjustified: ITAT Mumbai
Case Law Details
- Case Name
- Pratap Thakraji Solanki Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Mumbai
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Pratap Thakraji Solanki Vs ITO (ITAT Mumbai)
Only Profit on Bogus Purchases Taxable– Full 69C Addition Deleted, ITAT Restricts Addition to GP Rate of 11.54%; No Cross-Examination, No 100% Disallowance – ITAT Grants Partial Relief to Assessee
Assessee, a proprietor of M/s Honesty Tube Industries, filed appeal against the order of CIT(A), NFAC, dated 04.08.2025 confirming an addition of ₹32,75,050 u/s 69C as unexplained expenditure, treating his purchases from M/s Bristal Tube Industries as bogus.
The case was reopened u/s 147 based on information from the Directorate Gen...
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