When sales are not in doubt, then 100% disallowance for bogus purchases cannot be made

Sangeeta Metal (India) Vs ACIT (ITAT Mumbai)

Introduction: The case of Sangeeta Metal (India) vs ACIT unfolds with the Hon’ble ITAT Mumbai adjudicating on the issue of bogus purchases. Notably, the tribunal cites precedent and rules against a 100% disallowance, emphasizing the need for a nuanced approach based on the gross profit rate.

Detailed Analysis: The crux of the matter lies in the reassessment under section 147, where the Assessing Officer ad

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