Additions on account of bogus purchases - accommodation bills - ...

Case Laws Income Tax

November 8, 2013

Additions on account of bogus purchases - accommodation bills - AO only restricted to 20% of purchases claimed, it is surprising that the revenue now contends that the entire amount is disallowable. When Assessing Officer did not make disallowance of entire amount, ITAT can not improve upon the order of Assessing Officer - AT

View Source

← Previous Next →

Additions on account of bogus purchases - accommodation bills - ...

Case Laws Income Tax

November 8, 2013

You may also like:

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

The assessee provided documentary evidence supporting the purchase and subsequent sale of shares leading to long-term capital gains (LTCG). The evidence included...

Bogus purchase bills from certain ‘hawala’ dealers - The Tribunal found the assessee failed to substantiate the genuineness of the purchases from alleged Hawala dealers,...

The CIT(A) partly allowed and restricted the addition on account of commission expenses at 0.25% as compared to 2% adopted by the Assessing Officer. The coordinate bench...

Bogus purchase - AO added the entire amount of bogus purpose instead of GP ratio - CIT(A) deleted the additions - there is nothing on record which demonstrates the...

Bogus purchases - accommodation entry - at best it would be a case that purchases have been made from one party in grey market and bills have been obtained from another...

Addition of bogus purchases - The CIT (A) came to the conclusion that it is a case of purchases from gray market and thereafter, bills have been procured from hawala...

Addition being unverified sundry debtors - Additions have been confirmed on account of bogus purchases - Any addition out of the sales made out of the aforesaid...

Addition of non-genuine and merely accommodation entries - There could be several reasons for arranging bogus accommodation entries towards bogus purchases, which could...

Addition of bogus purchases - reopening u/s 147 - if the source of purchases are from the books and through account payee cheque, then how such purchases can be treated...

Addition u/s 69C - bogus purchases - Enquiries conducted by the AO prove the fact that purchases from the above parties are bogus which are not supported by necessary...

Bogus expenditure - addition @20% - Since all these expenses are otherwise essential for carrying out the business activity by the assessee, therefore, the claim of the...

Bogus purchases - AO estimated 10% of the bogus purchase - CIT (A) enhanced the addition - producing the bills and vouchers and evidencing the payment made through...

Validity of reopening u/s.148 - Addition of bogus purchases - there was a categorical information wherein the assessee’s name was appearing along with details of the...

Quick Updates: