ITAT reduces disallowance of bogus purchases to 2%

R R Carwell Pvt. Ltd. Vs DCIT (ITAT Delhi)

Disallowance of bogus purchases reduced to 2% when existence of some parties proved and payments were routed through bank

Facts- The assessee is engaged in the application/job-work of Auto Additives and Car care Products across various two-wheelers and four-wheelers authorized service centers. It filed its ROI on 25.09.2012 declaring income of Rs.58,04,170/-. The return was duly processed under section 143(1) determining the returned income.

During ass

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