Section 68 Addition Deleted Due to Lack of Evidence of Bogus Transactions

Hitesh Bhikhubhai Desai Vs ITO (ITAT Surat) The appeal before the Income Tax Appellate Tribunal (ITAT), Surat, arose from an order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] dated 26-08-2025 for Assessment Year 2019–20. The assessee, an individual, had originally filed a return of income on 17-09-2019. The assessment was subsequently reopened based on information that certain entities, including M/s. Classic Industries and its partner, were allegedly involved in providing bogus purchase and sale bills. The assessee was identified as a beneficiary, having reported sales amoun...