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Income Tax - Highlights / Catch Notes

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Disallowance on account of bogus purchases - Merely because ...

Case Laws     Income Tax

January 18, 2016

Disallowance on account of bogus purchases - Merely because notices u/s 133(6) could not be served on the suppliers, assessee- buyer cannot be put to an inconvenience of disallowance when he has provided the correct address of those parties - AT

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  10. Estimation of income - Bogus purchases - The Tribunal considered similar cases and upheld the decision to restrict the disallowance to 6% of the impugned purchases. They...

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  12. Restriction of disallowance - Bogus purchases - Restriction of disallowance @30% of total disallowance – addition of 12.5% net profit on bogus purchase is reasonable - AT

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  14. Reopening of assessment u/s 147 - bogus transactions or accommodation entries involving the assessee - the petitioner was issued a notice under section 133(6) of the...

  15. Legality of notice u/s 133(6) - The information sought is under section 133(6) and has nothing to do with any of the provisions of the Co-operative Societies Act - HC

 

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