https://www.taxtmi.com/caselaws?id=771448 The HC upheld the decisions of the CIT(A) and ITAT in deleting the addition made by the AO on the basis of alleged bogus purchases and sales. The court found that the AO's addition of Rs. 20.24 crores amounted to double taxation, as the net revenue from sales (sales less purchases) was already included in the Assessee's declared income. The AO had not rejected the books of accounts nor passed any order under section 144. Since the Assessee's books were accepted and the revenue was disclosed, the AO's addition was unwarranted. The AO could have disallowed expenses but could not add the same income twice. The HC ruled in favor of the Assessee, affirming that the additions were improper and set aside. en-us Thu, 22 May 2025 00:00:00 +0530 Mon, 04 Aug 2025 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771448 The HC upheld the decisions of the CIT(A) and ITAT in deleting the addition made by the AO on the basis of alleged bogus purchases and sales. The court found that the AO's addition of Rs. 20.24 crores amounted to double taxation, as the net revenue from sales (sales less purchases) was already included in the Assessee's declared income. The AO had not rejected the books of accounts nor passed any order under section 144. Since the Assessee's books were accepted and the revenue was disclosed, the AO's addition was unwarranted. The AO could have disallowed expenses but could not add the same income twice. The HC ruled in favor of the Assessee, affirming that the additions were improper and set aside. Case-Laws Income Tax Thu, 22 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771448