#Bogus purchases
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503 articlesIncome Tax
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Bogus Purchases Allegation Rejected as Sales, Stock & GST Records Accepted
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Section 69C: Tribunal Rulings on Unexplained expenditure (Bogus Purchases)
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ITAT Mumbai Invalidates Reassessment as Bogus Purchases Not ‘Asset’ Under Section 149
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Bogus Purchases – Only Profit Element Taxable @12.5% Where Sales Accepted
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Addition for Bogus Sale Upheld as Assessee Failed to Prove Genuine Transactions: Jharkhand HC
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Only profit element embedded to unaccounted purchases can be taxed: ITAT Chennai
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Bogus Purchase Addition Deleted – Suspicion from STR Report Insufficient When Purchases Supported by Evidence
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ITAT Seeks Written Timeline for AO Report Before Granting Adjournment in Bogus Purchase Appeals
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Bogus Purchase Addition Quashed as GST Records Proved Genuineness: ITAT Lucknow
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Bogus Purchase Addition Restricted to Profit Element @6.5% Commission Disallowance Deleted – Delay Condoned – ITAT Mumbai
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Bogus Purchase Addition Restricted to 5% as Sales Accepted & Banking Trail Proven: ITAT Mumbai
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ITAT Nagpur Deletes Bogus Purchase Addition – Verified Books & Payments Outweigh Sales Tax Info, Vendor Non-Production Not Fatal
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Bogus Purchase Addition Restricted to 25% Upheld – Entire Disallowance u/s 69C Rejected – Revenue Appeal Dismissed – ITAT Amritsar
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