https://www.taxtmi.com/caselaws?id=774984 The ITAT Jaipur ruled on an addition under section 68 concerning bogus accommodation entries through fictitious purchase/sales transactions. The assessee inflated purchases using fictitious invoices while the goods were neither received from stated suppliers nor delivered to stated buyers. The department initially added Rs. 4,05,71,650 but the tribunal found this excessive. The court noted that since sales were properly recorded in books and not disputed by the department, including them in the addition would constitute double taxation. The assessee proposed restricting the addition to Rs. 12,50,000, which the department did not object to after consideration. The ITAT confirmed the addition at Rs. 12,50,000 instead of the original Rs. 4,05,71,650, directing the AO to make necessary recalculations based on survey materials establishing the bogus nature of the transactions. en-us Tue, 15 Jul 2025 00:00:00 +0530 Thu, 17 Jul 2025 08:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774984 The ITAT Jaipur ruled on an addition under section 68 concerning bogus accommodation entries through fictitious purchase/sales transactions. The assessee inflated purchases using fictitious invoices while the goods were neither received from stated suppliers nor delivered to stated buyers. The department initially added Rs. 4,05,71,650 but the tribunal found this excessive. The court noted that since sales were properly recorded in books and not disputed by the department, including them in the addition would constitute double taxation. The assessee proposed restricting the addition to Rs. 12,50,000, which the department did not object to after consideration. The ITAT confirmed the addition at Rs. 12,50,000 instead of the original Rs. 4,05,71,650, directing the AO to make necessary recalculations based on survey materials establishing the bogus nature of the transactions. Case-Laws Income Tax Tue, 15 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774984