TMI BlogDisallowance of bogus purchases - Addition @ 12.5% of the aggregate of disputed purchases - Even the...Disallowance of bogus purchases - Addition @ 12.5% of the aggregate of disputed purchases - Even the entire transaction are not verifiable the lower authorities are entitled to tax the income component of transaction only - AO has made a reasonable disallowance, which does not require any interference - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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