Bogus purchases - the assessee could not produce the ...

Assessee Suspected of Grey Market Purchases, Faces 5% Profit Margin Estimation Due to Lack of Expense Evidence.

August 27, 2020

Case Laws Income Tax AT

Bogus purchases - the assessee could not produce the transportation evidences or expenditure incurred on account of transportation in regard to these purchases. - the assessee might have purchases from grey market and also saved VAT. Hence, a reasonable profit on these bogus bills can be estimated, as 5% - AT

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Bogus purchases - the assessee could not produce the ...

Assessee Suspected of Grey Market Purchases, Faces 5% Profit Margin Estimation Due to Lack of Expense Evidence.

August 27, 2020

Case Laws Income Tax AT

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