ITAT Ahmedabad Remands Case on Bogus Purchases for ITC Verification

ITO Vs Ramlal Manekchand HUF (ITAT Ahmedabad) ITAT Ahmedabad order on Addition u/s 69C – unexplained purchases – creditworthiness and genuineness of the two suppliers was not established – status of input text credit (ITC) claimed under the GST regime in respect of purchases made from these parties Brief Facts: The assessee-HUF, engaged in trading of gold and silver bullion and jewellery, filed return declaring income of ₹18.91 lakh. During scrutiny, it was noticed that the assessee had made large purchases of about ₹25.17 crore from five parties who were either non-filer...