https://www.taxtmi.com/caselaws?id=791928 An addition for alleged bogus purchases based only on a mismatch between books and GST data was not upheld because the assessee's explanation that the figures arose from agency transactions and stock transfers had not been properly verified; the matter was remanded for fresh examination. Additions under section 68 for loan creditors and sundry creditors were also not sustained merely because notices under section 133(6) elicited no response, since creditor-wise evidence and the assessee's supporting material required proper consideration. The impugned order was set aside and the matter sent back for fresh adjudication after hearing the assessee. en-us Thu, 30 Apr 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791928 An addition for alleged bogus purchases based only on a mismatch between books and GST data was not upheld because the assessee's explanation that the figures arose from agency transactions and stock transfers had not been properly verified; the matter was remanded for fresh examination. Additions under section 68 for loan creditors and sundry creditors were also not sustained merely because notices under section 133(6) elicited no response, since creditor-wise evidence and the assessee's supporting material required proper consideration. The impugned order was set aside and the matter sent back for fresh adjudication after hearing the assessee. Case-Laws Income Tax Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791928