ITAT deletes Bogus Purchase Additions as Purchase Legitimacy proved

Advertisement Vimal Coal Private Limited Vs DCIT (ITAT Ahmedabad) Vimal Coal Pvt. Ltd. challenged an order by the CIT(A) that upheld the addition of Rs. 25.91 lakh to its income for Assessment Year 2017-18, stemming from alleged bogus purchases totaling Rs. 2.47 crore. The revenue authorities had considered these purchases as non-genuine based on incriminating material obtained during a survey of the supplier, M/s HJM Fuels Pvt. Ltd. Despite the assessee’s submission of documentary evidence, including purchase bills, bank statements, and vendor confirmations, the Assessing Officer and...