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Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Bogus purchases - it is settled law that when sales are not ...


Court Rules 100% Disallowance for Bogus Purchases Impermissible if Sales Are Undisputed: Purchases Must Be Real.

March 14, 2019

Case Laws     Income Tax     AT

Bogus purchases - it is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. The rationale being no sales is possible without actual purchases.

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