Bogus Purchase- No addition for amount shown in work in progress

Vipin Madanlal Thapar Vs DCIT (ITAT Mumbai) The assessee was engaged in the business of real estate development. During the year under consideration the assessee was engaged in construction of development of building project named ‘Swaraj Crystal’ in Navi Mumbai. The project was completed in assessment year 2012-13 and assessee has declared a total profit of Rs.30,79,372/-. The addition of Rs.1,25,60,620/- in respect of purchases made from 5 parties as referred above were made by the A.O on the ground that sales tax department has treated these as bogus. The assessee submitted befo...