Sales Accepted, Purchases Can’t Be Bogus Under MVAT Alerts

Vaibhav Nandkishor Patil Vs ITO (ITAT Mumbai) Mumbai ITAT Deletes Bogus Purchase Addition: Sales Accepted, One-to-One Correlation Proved; Ad-hoc Expense Disallowance Also Quashed Sales Accepted, Purchases Can’t Be Bogus: ITAT Ends MVAT-Based Additions-  Suspicion Is No Substitute for Proof: Hawala Tag Alone Fails Assessee, proprietor of event-management concern M/s Evepro, faced reassessment u/s 147 based solely on information from MVAT Department alleging purchases from a listed hawala dealer. AO treated purchases of ₹15.47 lakh from Adinath Enterprises as bogus u/s 69C & further mad...