Bogus Purchase Addition Cannot Survive as Suspicion Cannot Override Documentary Evidence: ITAT Kolkata

Advertisement Diach Chemicals & Pigments Pvt. Ltd. Vs DCIT (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata, disposed of appeals filed by both the Revenue and the assessee for Assessment Years 2018-19, 2019-20, and 2020-21. The Tribunal dismissed the Revenue’s appeal for AY 2018-19 as infructuous after noting that a coordinate bench had already quashed the reassessment proceedings and the consequential assessment order in the assessee’s own case. It also allowed the assessee’s appeals for AYs 2019-20 and 2020-21 by deleting additions made on account of ...