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Purchase Addition Reduced as Manufacturing Reality Considered
Case Law Details
- Case Name
- Bhansali Udyog Pvt. Ltd Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Bhansali Udyog Pvt. Ltd Vs ITO (ITAT Delhi)
Bogus Purchase Disallowance Moderated: Delhi ITAT Caps Addition at 10% Where Sales Are Undisputed
The Delhi Bench of the ITAT partly allowed the appeal of Bhansali Udyog Pvt. Ltd. (AY 2018-19) by moderating the addition made on account of alleged bogus purchases of ₹53.48 lakh. While the Assessing Officer had treated the entire purchases as unexplained under section 69C, the CIT(A)/NFAC restricted the disallowance to 12.5%.
The Tribunal observed that the assessee was engaged in the manufacture of electrical wires and cables, and th...
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