ITAT Mumbai Remands Bogus Purchase Case for Re-examination

ITO Vs Jagdish Udhavdas Bajaj (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai bench, has sent back a case involving alleged bogus purchases by assessee Jagdish Udhavdas Bajaj to the Assessing Officer (AO) for a fresh examination. The tribunal’s decision came while hearing cross appeals filed by the Revenue and the assessee against an order passed by the Commissioner of Income-tax (Appeals) [CIT(A)] for the assessment year 2018-19. The dispute centres on purchases amounting to Rs. 1,09,38,553 made by the assessee from M/s Zephyr Fabric Trading LLP, an entity allegedly part of t...