![ITAT Deletes Penalty u/s 271(1)(c) on Estimated GP Addition for Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Boqus-Purchases.jpg "ITAT Deletes Penalty u/s 271(1)(c) on Estimated GP Addition for Alleged Bogus Purchases [Read Order]")
ITAT Deletes Penalty u/s 271(1)(c) on Estimated GP Addition for Alleged Bogus Purchases [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961 on Estimated GP...
![Penalty Notice issued without deleting or striking off inapplicable part: ITAT Deletes Penalty levied u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-mumbai-ITAT-Penalty-Deletion-Inapplicable-Penalty-Notice-Incorrect-Penalty-Notice-Deletion-ITAT-Decisions-on-Tax-Penalties-Taxscan.jpg "Penalty Notice issued without deleting or striking off inapplicable part: ITAT Deletes Penalty levied u/s 271(1)(c) of Income Tax Act [Read Order]")
![Sale without Purchase is Invalid, No Addition to Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Sale-Without-Purchase-transaction-in-accounting-Bogus-Purchase-deletion-Bogus-Purchase-Income-Tax-taxscan.jpg "Sale without Purchase is Invalid, No Addition to Income Tax Act: ITAT [Read Order]")
Partial relief of Disallowance u/s 40 40A(3) on Bogus Purchase without seeking Remand Report: ITAT upholds Partial relief as no Additional Evidence is taken [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the partial relief as no additional evidence was taken while dealing with partial relief of disallowance under Section 40A(3) of...
![Partial relief of Disallowance u/s 40 40A(3) on Bogus Purchase without seeking Remand Report: ITAT upholds Partial relief as no Additional Evidence is taken [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Partial-relief-of-Disallowance-Partial-relief-Disallowance-Bogus-Purchase-ITAT-upholds-Partial-relief-no-Additional-Evidence-is-taken-Additional-Evidence-TAXSCAN.jpg "Partial relief of Disallowance u/s 40 40A(3) on Bogus Purchase without seeking Remand Report: ITAT upholds Partial relief as no Additional Evidence is taken [Read Order]")
Accommodation Entries provided in form of bogus Purchases from Dummy Companies: ITAT upholds Addition u/s 69C of Income Tax Act
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition under Section 69C of the Income Tax Act, 1961, and held that the accommodation entries provided in the form of bogus...
Bogus Purchase, Claim of Expense Denied without Corroborative Evidence:Â Delhi HC quashes Reassessment Order [Read Order]
The Delhi High Court quashed the reassessment as alleging a Bogus Purchase, the claim of expense denied without corroborative evidence. Mr Shlok Chandra, learned senior standing counsel, accepts...
![Bogus Purchase, Claim of Expense Denied without Corroborative Evidence:Â Delhi HC quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Bogus-Purchase-Claim-of-Expense-Expense-Claim-Corroborative-Evidence-taxscan.jpg "Bogus Purchase, Claim of Expense Denied without Corroborative Evidence:Â Delhi HC quashes Reassessment Order [Read Order]")
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]
The Bombay High Court has held that only the profit element of a bogus purchase can be added to taxable income under the Income Tax Act, 1961 when the assessee reconciled the stock. The appellant...
![Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Profit-Element-of-Bogus-Purchase-Bogus-Purchase-Income-Tax-Act-Bombay-High-Court-Assessee-Taxable-Income-Under-Income-Tax-Act-Taxscan.jpg "Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]")
ITAT Directs AO to Delete Addition made on Bogus Purchase without considering Relevant documents of Assessee: Bombay HC Directs Re-Consideration [Read Order]
The Bombay High Court directed the Income Tax Appellate Tribunal (ITAT) to re-consider the order for deleting the addition made by the assessing officer on bogus purchase on the ground of...
![ITAT Directs AO to Delete Addition made on Bogus Purchase without considering Relevant documents of Assessee: Bombay HC Directs Re-Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Directs-AO-to-Delete-Addition-made-on-Bogus-Purchase-without-considering-Relevant-documents-of-Assessee-Bombay-HC-Directs-Re-Consideration-TAXSCAN.jpg "ITAT Directs AO to Delete Addition made on Bogus Purchase without considering Relevant documents of Assessee: Bombay HC Directs Re-Consideration [Read Order]")
![Profit from Bogus Purchases can be added to Taxable Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Profit-from-Bogus-Purchases-Taxable-Income-ITAT-Bogus-Purchases-Profit-taxscan.jpg "Profit from Bogus Purchases can be added to Taxable Income: ITAT [Read Order]")
![ITAT Disallows 25% of Alleged Bogus Purchase on Account of Inflation of Purchase Price [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Disallows-25-of-Alleged-Bogus-Purchase-Bogus-Purchase-Account-of-Inflation-of-Purchase-Price-Purchase-Price-ITAT-Taxscan.jpg "ITAT Disallows 25% of Alleged Bogus Purchase on Account of Inflation of Purchase Price [Read Order]")