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Bogus Purchases

Estimated Addition of Rs. 42.37 Lakh Bogus Purchases Insufficient for Penalty u/s 271(1)(c): ITAT dismisses Revenue Appeal [Read Order]

Sandhra Suresh

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the revenue’s appeal and upheld the deletion of penalty under Section...

Addition of Rs. 76.10 Lakh on Alleged Bogus Purchases u/s 69C: ITAT Directs Addition at 5% GP on...

Disallowance Restricted to 12.5% in Quantum Appeal: ITAT Deletes Penalty Citing Faulty Charge [Read...

Real Expenditure on Goods Received Despite Fictitious Invoices: ITAT Restricts Bogus Purchases...

AO cannot Make Addition on Bogus Purchases without Rejecting Books or Reported Sales : ITAT says...

No Independent Evidentiary Value For Statement Recorded u/s 133A During Survey: ITAT Deletes ₹9.6 Crore Bogus Purchases Addition [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) held that a statement recorded under Section 133A during a survey lacked independent evidentiary value and upheld the deletion of...

Bogus Purchases: Bombay HC Sustains ₹6 Crore Income Tax Addition using Peak of Purchases [Read Order]

The Bombay High Court recently used the peak of purchases method to ascertain and uphold an income tax addition of ₹6.15 crore on a trader with regard to alleged bogus purchases done during the...

No Bank Statements to Prove Transactions: Bombay HC orders Full Disallowance of Bogus Purchases u/s 69C [Read Order]

In a recent ruling, the Bombay High Court ordered the full disallowance of bogus purchases under Section 69C of the Income Tax Act, citing the absence of bank statements to verify transactions. ...

₹81.44 Lakh Addition for Alleged Bogus Purchases: ITAT Dismisses Appeal Due to 125-Day Delay Without Condonation Request [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal due to a 125-day delay without a condonation request in a matter involving an ₹81.44 lakh addition for alleged bogus...

Bogus Purchases Claim on Rs. 94.3 Crore: ITAT Upholds CIT(A) Relief Based on Supporting Evidence [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]’s decision, dismissing the Revenue’s appeal against the deletion of a ₹94.3 crore...

ITAT Quashes PCIT’s Revision Order on Alleged Bogus Purchases Citing AO’s Plausible View Backed by ITO Report and VAT Returns [Read Order]

Ajay Kalishchandra Bohra (assessee) is a proprietary concern of M/s Ashutosh Industries. The assessee’s case was reopened on the basis of ITO information. The information related to survey action in...

Income Tax Case Digest: Addition on Bogus Purchases under Income Tax Act

The word bogus refers to fake, false, sham, or not genuine. Bogus purchases under the Income Tax Act, 1961 refer to transactions where taxpayers falsely claim purchases from fictitious or...