Bogus Purchases Fully Disallowable as Supplier Was Found Non-Existent: ITAT Kolkata

Anowar Hossain Mondal Vs ITO (ITAT Kolkata) Summary : The Income Tax Appellate Tribunal, Kolkata Bench, dismissed the assessee’s appeal and upheld the addition of ₹15.08 lakh as unexplained expenditure under Section 69C arising from alleged bogus purchases made from a supplier identified as a paper entity engaged in issuing fake GST invoices. The assessee, engaged in hardware supply to Gram Panchayats, argued that purchases were supported by invoices, bank payments, GST details, confirmations, and accepted sales records. However, the Tribunal observed that the supplier was found non-existe...