ITAT Chandigarh Deletes Bogus Purchase Addition as Sales Accepted & Purchases Are Evidence-Backed

ITO-Ward-1 Vs Shri Rohit (ITAT Chandigarh) Bogus Purchase Addition of ₹15.09 Crore Rejected: ITAT Chandigarh Upholds Deletion Where Sales Accepted and Purchases Backed by Evidence The Income Tax Appellate Tribunal dismissed the Revenue’s appeal for AY 2021-22 and upheld the order of the Commissioner of Income Tax (Appeals), which had deleted an addition of ₹15.09 crore made under section 69C on account of alleged bogus purchases. The Assessing Officer had disallowed the entire purchases merely because certain suppliers had not filed income-tax returns, showed lower turnover, or had their...