ITAT remits purchase addition issue to AO, confirmed 50% disallowance of unsubstantiated labour charges

Globe Infraconstructions Pvt Ltd Vs DCIT (ITAT Visakhapatnam) Conclusion: Addition of ₹11.14 crore on account of alleged bogus purchases could not be sustained without first verifying the assessee’s claim that purchases worth approximately ₹11.07 crore had been reversed in its books and were never claimed as a deduction while computing taxable income. Accordingly, Tribunal set aside the issue to AO for fresh examination. However, the Tribunal upheld the disallowance of 50% of the labour expenses, amounting to ₹16.76 lakh, observing that assessee had failed to furnish adequate documenta...