Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Additions made on account of bogus purchase - question of ...

Income Tax

June 16, 2018

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 section 133(6) of the Act, from parties, cannot be the sole reason to make the addition.

View Source

 


 

You may also like:

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

  2. Addition being unverified sundry debtors - Additions have been confirmed on account of bogus purchases - Any addition out of the sales made out of the aforesaid...

  3. 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...

  4. 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...

  5. Addition made on account of bogus purchases - there cannot be a direct nexus between purchases and sales - in favour of assessee. - AT

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

  7. 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...

  8. Addition of bogus purchases - reopening u/s 147 - if the source of purchases are from the books and through account payee cheque, then how such purchases can be treated...

  9. Addition made on the basis of declaration of the assessee during search action - bogus purchases - The said letter clearly indicates that the additional income declared...

  10. Addition on account of alleged bogus purchases - The complete onus to prove the genuineness of the purchases was upon assessee and the same, in our opinion, has remained...

 

Quick Updates:Latest Updates