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ITAT Deletes Additions for Alleged Bogus Purchases & Unproved Unsecured Loans
Case Law Details
- Case Name
- Palak Alloys Pvt. Ltd. Vs DCIT (ITAT Kolkata)
- 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 Kolkata
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Palak Alloys Pvt. Ltd. Vs DCIT (ITAT Kolkata)
Bogus Purchase Allegation Collapses: Unsecured Loans Proven: Section 68 Addition Wiped Out by Tribunal; ITAT Deletes Addition for Alleged Fake Purchases Due to Lack of Contrary Evidence; Unsecured Loan Addition Removed as Revenue Failed to Disprove Supporting Documents; ITAT Sets Aside Additions Based Solely on Third-Party GST Reports; Failure to Identify Defects in Loan Documents Leads to Deletion of Section 68 Addition; Assessment Reopening Followed by Unsupported Additions Reversed by ITAT; ITAT Allows Appeal After Confirming Pu...
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