₹29.69 crore Bogus Purchases Addition Quashed as Notice Issued by JAO instead of FAO

ACIT Vs Sharmanji Yarns Private Limited (ITAT Chandigarh) The present case concerns cross-appeals arising from the assessment year 2018–19, originating from the order of the CIT(A), NFAC, Delhi, dated 03-03-2025. The assessment had been framed by the Assessing Officer (AO) under Section 147 read with Section 144B on 21-03-2024. The primary issue involved the addition of alleged bogus purchases of ₹29.69 crore, made by the assessee from four parties. The CIT(A) estimated this addition at 9%, and both the assessee and the Revenue filed further appeals before the ITAT. The assessee’s repres...