https://www.taxtmi.com/caselaws?id=313260 The ITAT Kolkata ruled in favor of the assessee regarding alleged bogus purchases. Despite notices to suppliers being returned unserved after several years, the tribunal found that the assessee had exported the purchased goods without dispute from revenue authorities. The purchase bills bore sales tax checkpost stamps, and payments were made through banking channels. Revenue did not contest quantitative details of stock, purchases, and sales. The tribunal held that unserved notices to suppliers alone cannot justify disallowing purchases and set aside the lower authorities' order. en-us Fri, 09 Jan 2015 00:00:00 +0530 Wed, 03 Apr 2024 18:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313260 The ITAT Kolkata ruled in favor of the assessee regarding alleged bogus purchases. Despite notices to suppliers being returned unserved after several years, the tribunal found that the assessee had exported the purchased goods without dispute from revenue authorities. The purchase bills bore sales tax checkpost stamps, and payments were made through banking channels. Revenue did not contest quantitative details of stock, purchases, and sales. The tribunal held that unserved notices to suppliers alone cannot justify disallowing purchases and set aside the lower authorities' order. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313260