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Income Tax - Highlights / Catch Notes

Home Highlights October 2017 Year 2017 This

The purchases made cannot be held as bogus merely on presumption ...


Tax Purchases Valid Despite Lack of Delivery Proof; Assumptions Alone Insufficient to Dismiss Transactions.

October 13, 2017

Case Laws     Income Tax     AT

The purchases made cannot be held as bogus merely on presumption and surmises and on the sole reasoning that the assessee was unable to produce delivery challan / angadia receipts.

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