No discrepancies in the audited books of accounts – Bogus purchase addition deleted by Delhi ITAT

The addition of bogus sundry creditor has been deleted by the Delhi bench of ITAT on the ground that the accounts of the appellant are also regularly audited u/s 44AB of the Income Tax Act. Complete books of accounts & bills & vouchers were produced & test checked by the AO himself as per the record and the Assessing Officer has failed to pinpoint any discrepancy in the details filed and books of accounts, bills, and vouchers produced during the course of the assessment proceedings.
In this case, the AO made addition on the ground that the assessee failed to produce the creditors’ PAN to confirm their identity. Even the creditworthiness of creditors could not be verified in the absence of PANs. (ACIT Vs. Al Nasir Agro Foods, ITA No. 4327/Del/2016)

 

 

1684912306-4327 Al Nasir Agro Foods