Bogus purchases - Without causing any further enquires in ...

Income Tax

October 26, 2016

Bogus purchases - Without causing any further enquires in respect of the said purchases, the AO cannot make the addition under section 69C of the Act by merely relying on information obtained from the Sales Tax Department - AT

View Source

← Previous Next →

Bogus purchases - Without causing any further enquires in ...

Income Tax

October 26, 2016

You may also like:

Bogus purchases - addition made on the basis of Maharastra VAT authorities to the effect that assessee’s suppliers have issued bogus invoices without involving any...

Reopening of an assessment beyond 4 years - issue of bogus purchases - specific and concrete information available with the AO - Reassessment proceedings sustained -...

Depreciation in respect of certain capitalized amount in the nature of URD purchases [unregistered dealers] forming part of the building - the assessing officer did not...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

Special audit under section 142(2A) – bogus purchases – A recourse cannot be taken to the provisions contained there lightly and without due fulfilment of the statutory...

Bogus purchases - Disallowance of expenditure regarding sundry creditors - AO was adding amounts on the basis of then un-reconciled differences which is violation of the...

Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

Bogus purchases - In a case where sales are considered genuine, no addition, on account of bogus purchases, can be made - AT

Restriction of disallowance - Bogus purchases - Restriction of disallowance @30% of total disallowance – addition of 12.5% net profit on bogus purchase is reasonable - AT

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...

Quick Updates: