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Without Bogus Purchases, No Bogus Sales – ITAT Deletes ₹4.67 Cr Addition
Case Law Details
- Case Name
- DCIT Vs B. Chokshi Chem Pvt. Ltd. (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Ahmedabad
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DCIT Vs B. Chokshi Chem Pvt. Ltd. (ITAT Ahmedabad)
Bogus Sale Addition Falls Flat- No Bogus Purchases, Hence No Bogus Sales- Tribunal deletes Rs. 4.67 Crore Addition
Ahmedabad Tribunal dismissed four appeals of Revenue, upholding deletion of additions made on account of alleged bogus sales.
The case arose from a search on Gujarat Polysol Chemicals Ltd. (GPCL) where Investigation Wing alleged bogus purchases. Since GPCL had shown purchases from Assessee, AO reopened assessment & treated sales of Rs.4.67 crores made by Assessee to GPCL as bogus.
CIT(A) deleted addition not...
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