Bogus Purchase Disallowance Restricted to 6% on Estimation by ITAT Delhi

Kapil Raj Anand Vs DCIT (ITAT Delhi) Bogus Purchase Disallowance Restricted to 6%—Lump-Sum Estimation Upheld in Section 153C Assessments The Delhi ITAT (E Bench) partly allowed the appeals of Kapil Raj Anand for AYs 2020-21 and 2021-22, arising from section 153C assessments, and restricted the disallowance on alleged bogus purchases to 6% of the purchase value. The Tribunal held that: The assessee, engaged in the construction business, had purchases from the Sanjay Jain Group treated as bogus and disallowed in full under section 69C by the AO, which was upheld by the CIT(A). The assessee...