Bogus purchases - Additions u/s 69C - assessee has not provided ...

Income Tax

June 16, 2015

Bogus purchases - Additions u/s 69C - assessee has not provided PAN No. of the parties - This cannot be the sole reason for disbelieving the explanation of the assessee, when the payments have been made by cheque duly reflected in the bank statement of the assessee - AT

View Source

← Previous Next →

Bogus purchases - Additions u/s 69C - assessee has not provided ...

Income Tax

June 16, 2015

You may also like:

The purchases made cannot be held as bogus merely on presumption and surmises and on the sole reasoning that the assessee was unable to produce delivery challan / angadia receipts.

Addition u/s 69C - bogus purchases - Enquiries conducted by the AO prove the fact that purchases from the above parties are bogus which are not supported by necessary...

Addition u/s 69C - bogus purchase bills - AO was having complete information about those parties - The ld. AO himself made any enquiry with those parties further with...

Reopening of assessment u/s 147 - Bogus purchases - In view of failure on the part of the assessee in substantiating the purchases from those two parties, the Assessing...

Bogus purchases - oil cakes shown as purchases by the assessee from 33 parties were not genuine transactions -Tribunal was justified in disallowing 25% of the purchase price - HC

Addition u/s 69C – addition on the ground that assessee deducted TDS on higher value and issued TDS certificate for higher amount - assessee explained the reasons - no...

Assessment of trust - addition being loans from three parties - It is well settled Law that assessee need not to prove source of the source. A.O. entirely on different...

Addition u/s 68 - In the given case, AO has not carried out any useful investigation but merely followed the previous pattern of investigation and completed the...

Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

Additions made on account of bogus purchase - question of rejecting the purchases simply because he did not receive any information, when notices were issued under...

Quick Updates: