Disallowance of bogus purchases - Addition @ 12.5% of the ...

Court Upholds 12.5% Tax on Unverifiable Purchases; Only Income Component Taxed by Authorities.

April 8, 2020

Case Laws Income Tax AT

Disallowance of bogus purchases - Addition @ 12.5% of the aggregate of disputed purchases - Even the entire transaction are not verifiable the lower authorities are entitled to tax the income component of transaction only - AO has made a reasonable disallowance, which does not require any interference - AT

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Disallowance of bogus purchases - Addition @ 12.5% of the ...

Court Upholds 12.5% Tax on Unverifiable Purchases; Only Income Component Taxed by Authorities.

April 8, 2020

Case Laws Income Tax AT

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