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2015 (4) TMI 1146 - SCH - Income Tax
Bogus purchases - Held that - We do not find any legal and valid ground for interference. The Special Leave Petition is dismissed. Justification in disallowing 25% of the purchase price. - See HC 2015 (1) TMI 828 - GUJARAT HIGH COURT
The Supreme Court dismissed the Special Leave Petition, stating that there were no legal grounds for interference. The dismissal does not affect pending proceedings for subsequent Assessment Years. The petitioner can still raise grievances regarding question No.1 in the High Court if desired.