Purchases Not Bogus When Books Are Accepted & Sales Undisputed: ITAT Delhi

ITO Vs Ajay Kumar (ITAT Delhi) Bogus Purchase Addition Deleted Despite 133(6) Non-response: ITAT Upholds Genuineness Where Sales, Books and GST Records Accepted The Delhi ITAT dismissed the Revenue’s appeals for AYs 2021-22 and 2022-23 and upheld the CIT(A)’s deletion of massive additions of ₹15.17 crore on account of alleged bogus purchases and ₹97.49 lakh relating to freight TDS issues in the case of Ajay Kumar. The Assessing Officer had treated purchases as non-genuine under Section 69C mainly because several suppliers did not respond to notices issued under Section 133(6) and some ...