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ITAT rules that survey statements alone cannot justify bogus purchase additions under Section 68. Corroborative evidence is mandatory in tax assessments.
ITAT Mumbai rules that once purchases are held bogus, the entire amount must be added under Section 69C. In ACIT vs Romil Diam, the Tribunal rejected 8% profit estimation, strengt…
ITAT Kolkata ruled that purchases cannot be disbelieved when books are accepted and payments are made through banking channels. The Tribunal deleted the ₹12.73 crore Section 69C a…
ITAT rules that purchases supported by valid GST e-way bills cannot be treated as bogus. Landmark judgment offers major relief to businesses, clarifies bogus purchase allegations,…