Income Tax Additions Can't Be Made On The Basis Of Superficial Inquiry: Bombay High Court

In a significant judgment delivered by the Bombay High Court on August 7, 2024, the court addressed the contentious issue of bogus purchases made by an assessee and the implications under Section 69C of the Income Tax Act. The case involved allegations of the assessee evading taxes by claiming false purchases and saving on VAT. Background of the Case: The case revolves around an assessee, Rajesh Sharma, who was under…