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Income Tax - Highlights / Catch Notes

Home Highlights June 2017 Year 2017 This

Bogus purchases u/s 69C - merely because the assessee is able to ...

Case Laws     Income Tax

June 13, 2017

Bogus purchases u/s 69C - merely because the assessee is able to produce the purchase bills evidencing the VAT charged to the assessee, does not establish the factum of purchases being made by the assessee - the assessee has not maintained any stock details - additions confirmed in certain cases - AT

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  10. Bogus purchase - purchase bills from these non-existent the/bogus parties cannot be taken as cogent evidence of purchases, in light of the overwhelming evidence the...

  11. Bogus purchases - addition made u/s 69C - assessee is making local purchases without any transportation bills, delivery challans etc., the possibility of the Assessee...

  12. CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation,...

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