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Rs. 87.65-Crore ‘Bogus Purchase’ Disallowance Remanded for Fresh Verification
Case Law Details
- Case Name
- ACIT Vs Taparia Tools Limited (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
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ACIT Vs Taparia Tools Limited (ITAT Pune)
₹87.65-cr ‘bogus purchase’ disallowance sent back: GST closure letters & transport evidence to be freshly examined
ITAT Pune set aside CIT(A)’s deletion of ₹87.65 crore disallowance on alleged bogus purchases from Sharp King Trading Pvt. Ltd. & remanded the issue to AO for limited fresh examination. AO had earlier disallowed 100% purchases u/s 37(1) citing non-production of transport bills, negligible expenses & profits of supplier, warehouse capacity mismatch & findings in supplier’s assessment.
CIT(A) deleted addition rely...
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