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Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Bogus purchases - the purchases shown by the assessee is not in ...


Taxpayer's Bogus Purchases Suspected from Grey Market; Full Amount Not Added to Income.

April 3, 2017

Case Laws     Income Tax     AT

Bogus purchases - the purchases shown by the assessee is not in doubt, but the assessee might have not purchased from these parties who he might have purchased it from the grey market. Therefore, entire purchases cannot be added to the total income of the assessee - AT

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