Bogus Purchases Must Be Taxed Under Section 69C, Not 37(1)

Harish Narang Vs PCIT (ITAT Delhi) Bogus Purchases Mean 69C, Not 37(1):Wrong Section, Short Tax: PCIT Right in Invoking 263 GST Scam Meets Income-Tax Law: 115BBE Hits Bogus Purchases- Accommodation Entries Can’t Get Normal Rate Shield-Section 69C Reigns Supreme Where Goods Never Arrived In Harish Narang Vs. PCIT , ITA No.3637/Del/2025, AY 2018-19, order dated 31.12.2025, Delhi ITAT upheld revision u/s 263 & dismissed Assessee’s appeal, holding that AO’s assessment u/s 147 r.w.s. 144B was erroneous & prejudicial to the interest of Revenue for wrongly invoking section 37(1) instead...