Sales Accepted, Purchases Can’t Be Branded Bogus: ITAT Chandigarh

ITO Vs Raman Kohli (ITAT Chandigarh) Sales Accepted, Purchases Can’t Be Branded Bogus: ITAT Chandigarh Dismisses Revenue Appeals for AYs 2020-21 & 2021-22 The Income Tax Appellate Tribunal dismissed the Revenue’s appeals for AYs 2020-21 and 2021-22, upholding the Commissioner of Income Tax (Appeals) orders that deleted large additions on account of alleged non-genuine purchases. The Assessing Officer had disallowed purchases aggregating ₹10.15 crore (AY 2020-21) and ₹11.66 crore (AY 2021-22) mainly because certain suppliers were non-filers of returns, had no email IDs, or did not f...