Survey Statements Alone Can’t Justify Bogus Purchase Additions

DCIT Vs Kay Bouvet Engineering Limited (ITAT Pune) Survey Statement Alone Can’t Sink Purchases: Pune ITAT Upholds Deletion of 2% “Commission” Addition u/s 68 In a significant ruling, the Pune Bench of the ITAT dismissed Revenue’s appeals and upheld deletion of addition of ₹3.60 crore made u/s 68 on account of alleged bogus purchases, holding that additions based merely on third-party survey statements u/s 133A, without independent enquiry, cross-examination & rejection of books, are unsustainable. The Assessee, Kay Bouvet Engineering Limited, engaged in manufacture of sugar mill ...