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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Addition u/s 69C - bogus purchases - AO cannot make the addition ...

Case Laws     Income Tax

January 20, 2017

Addition u/s 69C - bogus purchases - AO cannot make the addition under section 69C of the Act by merely relying on information obtained from the Sales Tax Department, the statement/affidavit of third parties - AT

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  9. 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...

  10. AO cannot make the addition u/s 69C by merely relying on information obtained from the Sales Tax Department, the statements/ affidavits of third parties, without the...

  11. Addition u/s 69C - bogus purchases - there is no evidence brought on record by the AO to establish that the said payments were routed back to the assessee, the addition...

  12. 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...

  13. 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...

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  15. The bogus transactions are a camouflage and dishonest attempt to avoid tax, resulting in addition to the assessee's income. The AO's approach should be well-considered,...

 

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