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Bombay High Court Rules on Section 271(1)(c) Penalty for Bogus Purchases
Learn about the Bombay High Court ruling regarding Section 271(1)(c) penalties on estimated bogus purchases and what it means for tax compliance.
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Agra ITAT Quashes Section 263 Revision on Rs 12.50 Crore Bogus Purchases
Agra ITAT quashes Section 263 revision regarding Rs 12.50 crore purchases for AY 2019-20 and remands a loan dispute for AY 2022-23.
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ITAT Delhi Restricts Gross Profit Addition on Bogus Purchases to 1 Percent
ITAT Delhi limits gross profit addition on disputed purchases from 2.88 percent to 1 percent, upholding previous rulings where sales were accepted.
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ITAT Delhi Rules PCIT Cannot Revise Bogus Purchase Addition When Two Views Exist
Discover the ITAT Delhi ruling stating the PCIT cannot revise bogus purchase additions under Section 263 when two plausible views exist.
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Delhi ITAT Limits Bogus Purchases Addition Under Section 69C to Rs 6 Lakh
Learn how the Delhi ITAT restricted a bogus purchase addition under Section 69C to Rs 6 lakh after accepting corresponding sales.
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ITAT Delhi Rules Documented Purchases Valid Despite Later GST Cancellation
ITAT Delhi holds that documented purchases cannot be treated as bogus solely due to the subsequent cancellation of the supplier's GST registration.