Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 973 - HC - Income TaxBogus purchases - Held that:- It is not the same as to say that for the purchase and sales which cannot be accounted for, estimated profit be added for computation of income at the rate of 25% of the bogus purchase as those cases need different appreciation from the present kind where claim of purchases and sales is a complete eyewash. Allowing disallowance at the rate of 25% the bogus purchase in cases like present one would amount to endorsing outright conduct of illegality.
|