Additions towards bogus purchases - Non genuine purchases of ...

Appellant Cleared of Bogus Fabric Purchase Allegations; Suppliers' Banking Practices Deemed Normal for Efficiency.

October 4, 2021

Case Laws Income Tax AT

Additions towards bogus purchases - Non genuine purchases of fabric made by the appellant - Opening of the bank account by the suppliers in the same bank in which assessee had bank account is not something which is unusual as it may be necessary for the smoothness of the banking and avoid the loss of time in collecting the cheques etc. We find that the burden to prove purchases was very well discharged by the assessee. - AT

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Additions towards bogus purchases - Non genuine purchases of ...

Appellant Cleared of Bogus Fabric Purchase Allegations; Suppliers' Banking Practices Deemed Normal for Efficiency.

October 4, 2021

Case Laws Income Tax AT

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