Bogus Purchase Upheld

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has upheld a disallowance of 12.5% of alleged bogus purchases after finding that the assessee failed to establish the actual physical movement and consumption of goods. 

The Tribunal held that invoices, banking records, delivery challans and GST records, in the absence of corroborative evidence of transportation and utilisation of goods, were insufficient to fully substantiate the purchases.