Suppliers Didn’t File Returns? Doesn’t Mean Assessee Didn’t Buy

Sriram Enterprises Vs ACIT (ITAT Kolkata) Suppliers Didn’t File Returns? Doesn’t Mean Assessee Didn’t Buy; Books Audited, Work Done, Payments Made – ITAT to AO: Prove It Bogus or Allow It Don’t Punish; No Confirmation? No Problem – Check ledgers, invoices & bank before taxing Assessee was a partnership firm engaged in large-scale government infrastructure contracts such as construction of roads, bridges & flood control works. For A.Y. 2021-22, it disclosed a massive turnover of ₹222.97 crore & a net profit of over ₹14 crore. The books of account were audited, &...