Bogus Purchase and Bogus Creditor

Assessment on Assessee made u/s 143(3) for the Asst Year 2021-22. Taxable amount of purchase of Rs.10 crores from a Supplier disallowed u/s 37 as the said Suplier has denied the sale transactions  with assessee.Supplier has also intimated that he is only a Watchman in a Residential Colony.Supplier has not been cross examined by the Assessee. GST amount of RS.60.00 Lakhs claimed as ITC  on above purchases  added as unexplained investment. Amount of Rs. 4 crore standing outstanding in the account of above supplier  as on 31-03-2021 was also added as unexplained credit.The said amount was paid to the Supplier…

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