Unproved/non-genuine purchases – ITAT reduces addition from 12.5% to 6%

Kailash Judhistir Sahu Vs CIT (ITAT Mumbai) Introduction: The case of Kailash Judhistir Sahu vs. CIT (ITAT Mumbai) involves an appeal against orders passed by the National Faceless Appeal Centre, Delhi, under section 250 of the Income Tax Act, 1961, for the Assessment Years 2009-10 and 2010-11. The primary issue revolves around the addition made by the Assessing Officer (AO) due to the inability of the assessee to produce parties of alleged bogus purchases. Detailed Analysis: In this case, the assessee had made purchases totaling Rs. 88,32,789 during the relevant assessment years. To verify th...