ITAT Limits Bogus Purchase Disallowance to 6%; Section 153C Jurisdiction Unresolved

LS Contractors Pvt. Ltd. Vs DCIT (ITAT Delhi)

Bogus purchase addition scaled down; E-way-bill purchases accepted as genuine; only 6% profit element sustained on remaining purchases; jurisdictional 153C grounds kept open

These two appeals by LS Contractors Pvt. Ltd. related to additions made u/s 153C treating purchases of cement & steel as bogus based on a search on Sanjay Jain group, who allegedly operated entities providing accommodation entries. AO relied on statements recorded during search &

Please become a Premium member. If you are already a Premium member, login here to access the full content.