https://www.taxtmi.com/caselaws?id=447952 The ITAT Mumbai upheld the CIT(A)'s decision to delete bogus purchase additions. The assessee provided comprehensive documentation including purchase bills, bank-attested transfer letters, bank account reflections, stock registers, ledger accounts, and VAT returns. The AO's case relied solely on admissions from earlier years involving different parties, not the current vendor. The tribunal found no concrete evidence to doubt purchases from the party in question for the current assessment year. The department's grounds were dismissed as the assessment order was quashed and validity of reopening under sections 147/148 was successfully challenged. en-us Mon, 30 Oct 2023 00:00:00 +0530 Mon, 08 Jan 2024 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447952 The ITAT Mumbai upheld the CIT(A)'s decision to delete bogus purchase additions. The assessee provided comprehensive documentation including purchase bills, bank-attested transfer letters, bank account reflections, stock registers, ledger accounts, and VAT returns. The AO's case relied solely on admissions from earlier years involving different parties, not the current vendor. The tribunal found no concrete evidence to doubt purchases from the party in question for the current assessment year. The department's grounds were dismissed as the assessment order was quashed and validity of reopening under sections 147/148 was successfully challenged. Case-Laws Income Tax Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447952