TMI BlogUnverifiable purchasesX X X X Extracts X X X X X X X X Extracts X X X X ..... THE AO ISSUED NOTICE U\S 131 TO THE PURCHSERERS AND SOME NOTICE RETRUN BACK AS MARK NOT FOUND OR ADDRESS IS NOT CORRECT , WHETHER THE AO CAN DEEMED SUCH PURCHASESAS UNVERIFIABLE PURCHASES , WHILE CONFIRMATIONS FROM ALL THE PURSHASERERES ARE SUBMITTED BY THE ASSESSEE TO AO . ADVISE ME - Reply By DEV KUMAR KOTHARI - The Reply = I think the AO issued notices to Suppliers of assessee and not to purch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asers- there seems a mistake in your query. Besides confirmation of purcahses from suppliers you need to establish that goods were received, accounted for and used/ sold or held as closing stock to establish that the purchases are genuine. In case of manufacturing activity consumption of material should be normal and not excessive. If excessive consumption is shown or excessive wastage is shown, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... without valid reason, then there can be doubt of bogus purchases. - Reply By Mukesh Kumar - The Reply = It is matter of evidence and proof. Why the letters return back as Mark not found or address not correct. One case or two case may be exceptional but each case! unbelievable. It means, there is something which is doubtful. All depend upon that how you are able to prove the genuineness and reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons to prove your transactions. - Unverifiable purchases - Query Started By: - GYAN JAIN Dated:- 9-11-2009 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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