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ITAT Pulls Back ₹30.76 Crore Bullion Addition Over Supplier Verification Lapses
Case Law Details
- Case Name
- Ashvinbhai Keshvlala Patel Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Ahmedabad
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Ashvinbhai Keshvlala Patel Vs ITO (ITAT Ahmedabad)
₹30.76 Crore Bullion Purchases Under Scanner: Entire Purchase Disallowed? ITAT Says Check ITC, Supplier’s Status & Money Trail First
Assessee, a bullion trader, declared income of ₹8,87,380. AO treated purchases of ₹30,76,08,006 from M/s Yoro Bullion Pvt. Ltd. as bogus after GST number cited in invoices was found cancelled w.e.f. 25.11.2019, all bills being subsequent, the party was non-traceable & notice u/s 133(6) remained un-complied.
CIT(A) confirmed addition. Before Tribunal, Assessee argued GST registration was active at ...
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