Mere Non-Filing of Returns by Suppliers Doesn’t Make Purchases Bogus

DCIT Vs Sincon Infrastructure Private. Ltd (ITAT Patna) Mere Non-Filing of Returns by Suppliers Doesn’t Make Purchases Bogus – ITAT Patna Upholds CIT(A) Assessee company engaged in the business of construction & maintenance of roads & bridges, filed return of income declaring ₹2.40 crore. The case was selected for scrutiny under CASS since substantial purchases were made from parties who had not filed returns of income. AO noted that Assessee had made purchases of ₹4.98 crore from seven such suppliers. Notices u/s 133(6) were issued, but only one party responded. AO therefore ...