No Cross-Examination, No Bogus Purchase Disallowance: ITAT Delhi

ACIT Vs My Paper Merchants Pvt. Ltd. (ITAT Delhi) No Cross-Examination, No Addition- ITAT Delhi deletes Bogus Purchase Disallowance- Addition u/s 69C on Alleged Bogus Purchases of ₹1.70 Cr Deleted – Documentary Evidence Proved Genuineness, Third-Party Statement without Cross-Examination held insufficient Delhi ITAT dismissed Revenue’s appeal & upheld the order of CIT(A) deleting an addition of ₹1,70,19,475 made by the AO u/s 69C on account of alleged bogus purchases. The case arose after information from the Investigation Wing suggested that Assessee company had purchased from M/s ...