Bogus purchases - When the AO has not doubted the sales declared ...

AO Cannot Reject Purchases as Bogus if Sales Aren't Doubted; Profit Margin Addition by CIT(A) Appropriate.

April 16, 2020

Case Laws Income Tax AT

Bogus purchases - When the AO has not doubted the sales declared by the assessee and merely rejecting the purchases is not proper. Assessee must have taken advantage by taking accommodation entries - Additions made by CIT(A) on profit margin is proper - AT

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Bogus purchases - When the AO has not doubted the sales declared ...

AO Cannot Reject Purchases as Bogus if Sales Aren't Doubted; Profit Margin Addition by CIT(A) Appropriate.

April 16, 2020

Case Laws Income Tax AT

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