https://www.taxtmi.com/caselaws?id=782372 ITAT Delhi allowed the assessee's appeal and deleted the addition made on account of alleged bogus purchases. The Tribunal held that the AO had no cogent material to establish that the assessee earned income from bogus transactions and had proceeded merely on estimation. The mere fact that the assessee held a Power of Attorney for persons involved in bogus transactions was held insufficient to tax such income in the assessee's hands. As the assessee, a practicing Chartered Accountant, had properly filed returns and no independent evidence was brought on record, the estimated addition was unsustainable. en-us Fri, 07 Nov 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782372 ITAT Delhi allowed the assessee's appeal and deleted the addition made on account of alleged bogus purchases. The Tribunal held that the AO had no cogent material to establish that the assessee earned income from bogus transactions and had proceeded merely on estimation. The mere fact that the assessee held a Power of Attorney for persons involved in bogus transactions was held insufficient to tax such income in the assessee's hands. As the assessee, a practicing Chartered Accountant, had properly filed returns and no independent evidence was brought on record, the estimated addition was unsustainable. Case-Laws Income Tax Fri, 07 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782372