Accepted Project Revenue Confirms Genuineness of Related Purchases

Kalpataru Projects International Ltd. Vs DCIT (ITAT Mumbai) Search After 10 Years Can’t Taint Genuine Purchases: ITAT Mumbai Deletes Entire s.37(1) Disallowance in Kalpataru / JMC Merger Cases ITAT Mumbai (E Bench) in Kalpataru Projects International Ltd. vs DCIT & cross-appeal (ITA Nos. 5962 to 5965 & 6112/Mum/2025; AYs 2013-14, 2014-15, 2015-16 & 2017-18; order dated 24.12.2025) has allowed all assessee appeals and dismissed the Revenue appeal, deleting even the residual 12.5% ad-hoc disallowance of alleged non-genuine purchases sustained by CIT(A). The dispute related to purch...