Mumbai ITAT Deletes Entire Bogus Purchase Addition: General Hawala Statements Cannot Override Site-Level Evidence

DCIT Vs Naozer Bejon Baldawala (ITAT Mumbai) Mumbai ITAT Deletes Entire Bogus Purchase Addition: General Hawala Statements Cannot Override Site-Level Evidence The Mumbai ITAT upheld the deletion of an addition of ₹1.07 crore made on account of alleged bogus purchases, holding that generalized statements of alleged hawala dealers cannot outweigh direct documentary evidence establishing actual purchase, delivery, and consumption of materials. The assessee, engaged in property development, renovation and repair contracts, had been subjected to reassessment based on information from the Maharash...