AO treated creditors shown by assessee as non-genuine and made addition on account of bogus purchases. CIT (A) restricting addition on account of bogus purchases to 10 per cent of turnover. On appeal the Tribunal affirmed the order of CIT(A). (AY. 2015-16 to 2020-21)
Shiv Shakti Construction. v. ACIT (2023) 202 ITD 655 (Delhi) (Trib.)
S. 69C : Unexplained expenditure-Bogus purchases-Civil contractor-No specific defects in the books of account-Addition on account of bogus purchases to 10 per cent of turnover is affirmed. [S. 145(3]
Leave a Reply