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Income Tax - Highlights / Catch Notes

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Bogus purchases - What the assessee has done is that he tried to ...


Assessee's Taxable Profit Increased Due to Fictitious Purchases; Failed to Prove Authenticity When Challenged.

June 28, 2016

Case Laws     Income Tax     HC

Bogus purchases - What the assessee has done is that he tried to reduce the profit by showing artificial purchases. When the assessee was unable to show genuineness of those purchases the amount of profit is bound to be increased. - HC

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