TMI BlogGenuineness of expenses - Because subsequently those parties could not confirm the transaction, it...Genuineness of expenses - Because subsequently those parties could not confirm the transaction, it cannot be inferred that expenses incurred by the assessee were not genuine. It is also an accepted fact that none of the parties were found to be bogus or the purchases were found to be nongenuine. There may be many reasons that notices u/s 133 (6) remained unserved or not responded to. But, merely that fact, cannot result into disallowance. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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