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...
![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]](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]](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]")
Income Escaped for Assessment not Represented "in the form of an asset": ITAT quashes Addition u/s 153A Towards Bogus Purchase and Disallowance of Salary
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has quashed the addition under Section 153A of the Income Tax Act, 1961 towards bogus purchase and disallowance of salary as the income...
![Mere Non-Production of Original Bills will not make Purchases ‘Bogus’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Non-Production-of-Original-Bills-Bills-Bogus-Purchases-ITAT-taxscan.jpg "Mere Non-Production of Original Bills will not make Purchases ‘Bogus’: ITAT [Read Order]")
Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while deleting penalty based on estimated addition, held that entire bogus purchases cannot be...
![Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Bogus-Purchases-ITAT-Penalty-taxscan.jpg "Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]")
Bogus Purchase in Identical Name of Assessee, Assessee has Right to Cross-Examine: Orissa HC [Read Order]
The High Court ( HC ) of Orissa on a bogus purchase case in the identical name of the assessee held that the assessee has the right to cross-examine the alleged purchaser. Jai Maa Kali Store, the...
![Bogus Purchase in Identical Name of Assessee, Assessee has Right to Cross-Examine: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Bogus-Purchase-Identical-Name-of-Assessee-Assessee-Cross-Examine-Orissa-High-Court-Taxscan.jpg "Bogus Purchase in Identical Name of Assessee, Assessee has Right to Cross-Examine: Orissa HC [Read Order]")
No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that addition on account of estimated gross profit is not permissible in the absence of evidence to prove a bogus purchase. ...
![No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-bogus-purchase-Estimated-Gross-Profit-Gross-Profit-ITAT-taxscan.jpg "No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]")