Held that the assessee furnished stock register, detailing the movement of goods as accounted by him in his books of accounts supported by purchase bills and delivery challans thereby demonstrating that he has purchased goods from APT at landed price, and the proprietor of APT having appeared before the AO and produced relevant documentary evidence confirming the said transaction with the assessee, the impugned addition made by the AO by treating 25 per cent of the total purchases made from APT as bogus purchases is not sustainable. PCIT v. Kanak Impex (India) Ltd. (2025) 344 CTR\u00a0 137 (Bom) (HC)\u00a0 248 DTR distinguished. (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69: Unexplained investments-Income from undisclosed sources-Alleged bogus purchases-Vendor appeared before the Assessing Officer]-Produced delivery stock register, detailing the movement of goods-Addition of 25 % of total purchases was deleted. [S. 131] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61859","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g5J","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=61859"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61859\/revisions"}],"predecessor-version":[{"id":61860,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61859\/revisions\/61860"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}