Bogus Purchase addition restricted to 10% Despite Entry Operator Statement

Advertisement Nitin Kaher Vs AO (ITAT Delhi) Bogus Purchase Allegation Softened: ITAT Delhi Restricts Section 69C Addition to 10% Despite Entry-Operator Statement The Delhi ITAT (A-Bench) partly allowed the assessee’s appeal for AY 2020-21, holding that a 100% disallowance of ₹16.65 lakh under Section 69C based solely on an investigation-wing statement was not justified. The Assessing Officer had treated purchases from Shri Govinda Enterprises as non-genuine on the basis of a third-party statement denying knowledge of transactions. The Tribunal noted that the assessee had produced comp...