Hawala Purchase Additions restricted to 15%, Typo Not Justify Full disallowance

Advertisement DCIT Vs Ramelex Private Ltd. (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench, in the case of DCIT Vs. Ramelex Private Ltd., dismissed the Revenue’s appeal, upholding two key decisions made by the Commissioner of Income Tax (Appeals) [CIT(A)]. The rulings concerned the factual verification of Hawala purchases and the legal restriction of the disallowance to a profit element, rather than the entire purchase amount, in cases involving bogus purchases supported by VAT data. Verification of Hawala Purchase Figures The first issue concerned a significant discrepan...