Capitalization Allowed: Evidence Required Beyond Assessee's Statement, High Court Supports ITAT Decision.

Bogus purchasers capitalized - ITAT has held that capitalization cannot be denied to the assessee merely on a statement given by him, without adducing evidence of other necessary parties - The High Court upheld the ITAT's decision, allowing the capitalization of the contested expenses and rejecting the appeal by the Revenue .....

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