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Income Tax - Highlights / Catch Notes

Home Highlights October 2017 Year 2017 This

The purchases made cannot be held as bogus merely on presumption ...

Income Tax

October 13, 2017

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.

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

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