https://www.taxtmi.com/caselaws?id=782939 The ITAT Chandigarh dismissed Revenue's appeal and upheld the CIT(A)'s relief to the assessee on all issues. It confirmed deletion of addition u/s 68, holding that section 68 cannot apply to mere opening balances with no credit in the relevant year. Disallowance of GST expenditure was sustained as allowable, the liability having crystallized in the year and being deductible either u/s 36(1)(vii) or s.37(1). On alleged bogus purchases, the Tribunal accepted audited books and sales and approved restriction of addition only to a nominal gross profit rate. It further endorsed deletion of addition for alleged purchase differences, arising from the AO's erroneous comparison methodology. en-us Thu, 27 Nov 2025 00:00:00 +0530 Sat, 06 Dec 2025 08:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782939 The ITAT Chandigarh dismissed Revenue's appeal and upheld the CIT(A)'s relief to the assessee on all issues. It confirmed deletion of addition u/s 68, holding that section 68 cannot apply to mere opening balances with no credit in the relevant year. Disallowance of GST expenditure was sustained as allowable, the liability having crystallized in the year and being deductible either u/s 36(1)(vii) or s.37(1). On alleged bogus purchases, the Tribunal accepted audited books and sales and approved restriction of addition only to a nominal gross profit rate. It further endorsed deletion of addition for alleged purchase differences, arising from the AO's erroneous comparison methodology. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782939