Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Penalty u/s 270A - allegation of misreporting as...     TaxTMI    Estimation of income - bogus purchases - The...     TaxTMI    Rejection of application for registration u/s...     TaxTMI    Condonation of delay - substantial delay of 166...     TaxTMI    Unexplained cash credit u/s 68 - The Court...     TaxTMI    Validity of Reassessment notices issued unsigned -...     TaxTMI    Demand of late fee u/s 47(1) of the CGST / SGST Act...     TaxTMI    Validity Of Order passed u/s 73 - Denial of ITC...     TaxTMI    Validity Of Order passed u/s 73 - cryptic order -...     TaxTMI    Computation of short term capital gain - allowable...     TaxTMI    Denial of benefit u/s 115BAA - while filing its...     TaxTMI    Unexplained Cash Credit u/s 68 - Authenticity of...     TaxTMI    Interest and penalty liability - Petitioner...     TaxTMI    Levy of penalty - the e-way bill had expired one...     TaxTMI    Validity of Service of notice u/s 74(5) instead of...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Bogus purchases - when the hawala person himself had admitted ...

Income Tax

April 27, 2017

Bogus purchases - when the hawala person himself had admitted that he had arranged the purchases from grey market and got them supplied, the addition on account of so called alleged bogus purchases cannot be added as income of the assessee - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Addition of bogus purchases - The CIT (A) came to the conclusion that it is a case of purchases from gray market and thereafter, bills have been procured from hawala...

  2. Purchase of material in the grey market - the addition, which could be made, was to account for profit element embedded in these purchase transactions to factorize for...

  3. Bogus purchase bills from certain ‘hawala’ dealers - The Tribunal found the assessee failed to substantiate the genuineness of the purchases from alleged Hawala dealers,...

  4. Validity of reopening of assessment - reasons to believe - purchases from grey market - addition @ 12.50% of alleged bogus purchases - Dealings in the grey market give...

  5. Bogus purchases - accommodation entry - at best it would be a case that purchases have been made from one party in grey market and bills have been obtained from another...

  6. Estimation of income - bogus purchases - A.O. has observed that respondent has purchased material from someone else while bogus bills were organized by these Hawala...

  7. Estimation of profit - purchase from hawala operators - bogus purchases - CIT(A) estimated GP @ 17.5% on alleged bogus purchases as against 7.11% declared by the...

  8. Estimation of income - Bogus purchases - The assessee is engaged in reselling of ferrous and non-ferrous metals and in such circumstances we have to apply profit rate...

  9. Bogus purchases - the assessee could not produce the transportation evidences or expenditure incurred on account of transportation in regard to these purchases. - the...

  10. Bogus purchases - profit @12.5% upheld - purchases through the grey market - reduction of gross profit already shown and offered to tax from profits earned by the...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
H: Refund of excess duty paid under protest - date on which notification ...
H: Integrity of the electoral process - suspicion of infringement of a ri...
H: The original appellant (now deceased) was represented by her son as he...
A: APPOINTMENT OF INDEPENDENT DIRECTOR OVER 75 YEARS OF AGE
A: RECENT DEVELOPMENTS IN GST
A: Section 115BBE is prospective held by the Supreme Court
A: A Guide for Types Of Leaves and Law policies for Employees in India
F: Sec 16(4) Reversal of ITC when 3B is filed belatedly
C: Corrigendum to Public Notice No.01/2024 dated 9th April, 2024 on modif...
C: Relaxation in requirement of intimation of changes in the terms of Pri...
F: sales Against 0.1% GST- if export not done within 90 Days
F: Composition scheme
A: FILING APPEAL BEFORE SUPREME COURT – LOW TAX EFFECT
A: A Simple Analysis of Duty Drawback
A: Can a Registered Person claim an Input Tax Credit of IGST whose Place ...
H: Cancellation of GST Registration - Legal Validity of Retrospective Can...
H: Levy of penalty - goods were undervalued - The High Court, after caref...
H: Levy of Penalty u/s 129(3) of the Central Goods and Service Tax Act, 2...
H: Levy of GST - Royalty- seigniorage fee paid by the petitioner to the G...
H: Credit of TDS - Non-reflection of TDS credit in its 26AS statement - T...
H: Foreign Tax Credit u/s. 90 - denial of tax credit paid in the source c...
H: Penalty proceedings for a default committed by a deceased - legal repr...
H: Estimation of income - Bogus purchases - Second reopening assessment p...
H: Revision u/s 263 - Upon examination, the Tribunal found that the Asses...
H: Validity of the assessment order passed u/s 143(3) - Assumption of jur...
H: Lack of jurisdiction of AO in issuing notice u/s.143 (2) - Change of r...
H: Addition u/s 68 r.w.s. 115BBE - Bogus LTCG - The Tribunal examined the...
A: ADDITIONAL GROUNDS OF APPEAL AND ORDER IN APPEAL IN GST
A: Know the Challenges and Issues with GST
A: WRONG FIXATION OF FEES PAYABLE TO INTERIM RESOLUTION PROFESSIONAL