Bogus purchases of goods - When the entire purchases made from ...

Disallowed Purchases from TTPL Adjusted to Reduce Closing Stock, Neutralizing Profit Impact; No Further Adjustments Needed.

May 4, 2016

Case Laws Income Tax AT

Bogus purchases of goods - When the entire purchases made from TTPL was available as stock as at the year end, then the disallowance of purchases should result in corresponding reduction of the closing stock, the result of which would have NIL effect on profit and hence there was no requirement of making any addition - AT

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Bogus purchases of goods - When the entire purchases made from ...

Disallowed Purchases from TTPL Adjusted to Reduce Closing Stock, Neutralizing Profit Impact; No Further Adjustments Needed.

May 4, 2016

Case Laws Income Tax AT

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