ITAT Upholds 5% Addition Where Purchases Linked to Sales

ITO Vs Silk Factory (ITAT Delhi)

Bogus Purchase Allegations Fail Where Sales and Stock Are Accepted – ITAT Delhi Upholds 5% Estimation

The Delhi Bench of the ITAT dismissed the Revenue’s appeal and upheld the order of the CIT(A) restricting disallowance of alleged bogus purchases to 5% for AY 2022-23. The AO had treated purchases of ₹21.83 crore from certain suppliers as entirely fictitious based on GST irregu

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