Only Profit on Bogus Purchases Taxable – Full Disallowance Unjustified: ITAT Mumbai

Pratap Thakraji Solanki Vs ITO (ITAT Mumbai)

Only Profit on Bogus Purchases Taxable– Full 69C Addition Deleted, ITAT Restricts Addition to GP Rate of 11.54%; No Cross-Examination, No 100% Disallowance – ITAT Grants Partial Relief to Assessee

Assessee, a proprietor of M/s Honesty Tube Industries, filed appeal against the order of CIT(A), NFAC, dated 04.08.2025 confirming an addition of ₹32,75,050 u/s 69C as unexplained expenditure, treating his purchases from M/s Bristal Tube Industries as bogus.

The case was reopened u/s 147 ba

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