ITAT Deletes ₹1.82 Cr Bogus Creditors Addition, Upholds CIT(A) Deletion

DCIT Vs Clartech Engineers Pvt. Ltd. (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, has dismissed an appeal filed by the Deputy Commissioner of Income Tax (DCIT) and upheld the decision of the Commissioner of Income-tax (Appeals) [CIT(A)] to delete significant additions made during the assessment of Clartech Engineers Pvt. Ltd. for the Assessment Year 2017-18. The ruling confirms the deletion of an addition amounting to ₹1,82,75,037 related to alleged bogus creditors and a partial disallowance of depreciation on a CNC Lathe machine. The case originated from the asses...