GST Paid Due to Supplier Default Allowable as Business Expense: ITAT Chandigarh

Advertisement ITO Vs Bhagwan Das (ITAT Chandigarh) No Fresh Credit, No 68, GST Paid Due to Supplier Default Allowed as Business Expense, Miscomparison of GST Figures Proved Revenue appealed against the CIT(A)/NFAC order deleting multiple additions made by AO in a scrutiny assessment of Bhagwan Das, Proprietor of Bhagwan Steel. Assessee declared income of Rs.11,05,810/-. AO made additions aggregating to several crores on the grounds of unexplained sundry creditors, GST payment disallowance, alleged bogus purchases & purchase-value differences. On the issue of Rs.24,82,734/- u/s 68 for tw...