No Adverse Inference Allowed Without Rejecting Books or Stock Records

ACIT Vs Rudra Global Infra Products Limited (ITAT Ahmedabad) Bogus Purchases Deleted Despite 133(6) Non-Compliance: ITAT Ahmedabad Upholds CIT(A)’s Order in Absence of Contrary Evidence The Ahmedabad Bench of the ITAT dismissed the Revenue’s appeal and upheld the deletion of a ₹41.71 crore addition on account of alleged bogus purchases made by the Assessing Officer for AY 2022-23. The addition was made solely on the basis of non-response or partial response to notices issued u/s 133(6) to certain suppliers of MS scrap. The Tribunal noted that the assessee had produced extensive contempor...