Addition Deleted as Purchases Cannot Be Treated Bogus Without Rejecting Books

Pravesh Kumar Jaiswal Vs ITO (ITAT Kolkata)

The assessee appealed against the order of the Commissioner of Income Tax (Appeals), Kolkata, which had upheld an addition of ₹12,73,85,064 under section 69C read with section 115BBE. The Assessing Officer had treated the entire purchases as non-genuine on the ground that several suppliers from whom the assessee purchased goods were either non-filers of income tax returns, had extremely low turnover, or had GST registrations that were cancelled or suspended. The scrutiny assessment was initiated after the department, based on ADG (GST)

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