Court Examines Bogus Paddy Purchases u/s 40A(3), Highlights Fraudulent Transactions with Societies and Samathies.

Disallowance of paddy purchase - purchases from Societies and Samathies - A bogus purchase implies no purchase, while verification w.r.t. s. 40A(3) necessarily implies a seller and a purchaser, i.e., a payer and payee, both of whom coalesce into one in case of a bogus claim. - AT .....

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