Income Tax : The issue concerns how purchase classification affects tax treatment. The key takeaway is that bogus purchases lead to full disall...
Income Tax : Courts have clarified that purchases cannot be disallowed without proper evidence. Genuine transactions supported by documents can...
Income Tax : ITAT held that section 69 cannot be invoked where purchases are duly recorded in books and paid through banking channels, making t...
Income Tax : The Tribunal held that purchases cannot be fully disallowed merely on suspicion and supplier deficiencies. The issue was remanded ...
Income Tax : bogus purchases is a arisen, there has not been a consistent approach of different courts, as facts are not found similar in such ...
Goods and Services Tax : DGGI in Gurugram has successfully dismantled a massive network of fake entities involved in fraudulent tax practices. The operatio...
Goods and Services Tax : DGGI Gurugram unmasked an Input Tax Credit fraud operation with 461 shell entities, causing a loss of Rs. 863 crore to exchequer....
Goods and Services Tax : CGST Navi Mumbai arrests one person for availing and passing on fake ITC on bogus invoices On 18th August 2022, the Proprietor/ma...
Goods and Services Tax : CGST Bhiwandi Commissionerate arrests two persons for availing and passing on fake ITC on bogus invoices of Rs. 55 crore Officers ...
Income Tax : Income Tax Department conducts search operations in West Bengal The Income Tax Department initiated search operation in the case o...
Income Tax : Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
Income Tax : ITAT Rajkot held that in cases involving bogus purchases, only the profit element embedded in such purchases can be added to incom...
Income Tax : Delhi ITAT held that cancellation of GST registration and non-response from suppliers alone cannot justify treating entire purchas...
Income Tax : ITAT Delhi held that where sales are accepted and purchases are supported by invoices and banking transactions, only the profit el...
Goods and Services Tax : The Ministry of Finance, Government of India, recently released Instruction No. 03/2023-GST, dated 14th June, 2023, outlining stri...
Goods and Services Tax : Government of India has noticed instances of fake GST registrations and issuance of bogus invoices leading to revenue loss. A meet...
Goods and Services Tax : Instructions to ensure careful handling of registration, cancellation, and revocation of registration processes for fake taxpayers...
Goods and Services Tax : Our experience shows that the bill traders after getting registrations, issue invoices without supply of goods or services for hug...
Goods and Services Tax : Assessment of return non-filers u/s 62 is done as a measure to ensure filing of return. However, the taxpayers are' detected as no...
Explore ITAT Mumbai’s order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the importance of accepted transactions.
Read the Kerala High Court judgment in Shine Abraham Vs State Tax Officer case, upholding the blocking of input tax credit due to fictitious transactions and fake invoices.
Explore the JMD Corporation vs ITO case where ITAT Mumbai restricts profit element of purchases at 4%, examining allegations of bogus purchases for A.Y. 2011-12.
Learn about the case involving Noble Corporation and ITAT Mumbai restricting addition to 7% of value of bogus purchases. Discover the key documents and the ruling of Assessing Officer in this blog post.
Delhi HC judgment on Gudwala And Sons vs. ACIT for AY 2019-20. Detailed analysis of reassessment proceedings, allegations, and flaws in AO’s approach.
Read the full text of the ITAT Delhi order on the case of AAA Teleshopping Pvt. Ltd vs. ACIT for assessment year 2011-12, with detailed analysis and conclusions.
Read the full text of the ITAT Mumbai order in Kailash Judhistir Sahu vs. CIT, where the addition from 12.5% to 6% for inability to produce parties of bogus purchases is restricted.
Explore the judgment from the Allahabad High Court in the case of Malik Traders vs. State of U.P. The court upheld the denial of input tax credit due to insufficient evidence, highlighting the importance of providing comprehensive proof of transactions in GST cases.
The Delhi High Court sets aside a reassessment order related to alleged bogus purchase claims, citing the need for proper evidence and defense for the assessee.
In a recent judgment, the Allahabad High Court granted one month to the assessee, M/s Abhay Traders, to submit a reply to a vague and invalid show cause notice alleging bogus purchases.
