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ITAT Limits Bogus Purchase Disallowance to 6%; Section 153C Jurisdiction Unresolved
Case Law Details
- Case Name
- LS Contractors Pvt. Ltd. Vs DCIT (ITAT Delhi)
- 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 Delhi
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LS Contractors Pvt. Ltd. Vs DCIT (ITAT Delhi)
Bogus purchase addition scaled down; E-way-bill purchases accepted as genuine; only 6% profit element sustained on remaining purchases; jurisdictional 153C grounds kept open
These two appeals by LS Contractors Pvt. Ltd. related to additions made u/s 153C treating purchases of cement & steel as bogus based on a search on Sanjay Jain group, who allegedly operated entities providing accommodation entries. AO relied on statements recorded during search & held that purchases from five concerns controlled by Sanjay Jain were bogu...
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