Sales Accepted but Purchases Disputed? ITAT Slams 100% Disallowance Reason

Ankur Kumar Goel Vs ITO (ITAT Delhi)

Sales Accepted, Purchases Disbelieved? Tribunal Applies Reality Check- 100% Bogus Purchase Disallowance Cut to Just ₹3.5L –

 Tribunal Balances Justice: Lump Sum Disallowance Allowed, Penalty Cancelled

This matter involved two appeals – one against the quantum addition & the other against the penalty u/s 271(1)(c).

Quantum Appeal – Bogus Purchases

Assessee was engaged in regular business & had declared sales which were fully accepted by both

Please become a Premium member. If you are already a Premium member, login here to access the full content.