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Income Tax - Highlights / Catch Notes

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Disallowance of purchase made from sister concerns - Making ...

Income Tax

July 21, 2021

Disallowance of purchase made from sister concerns - Making disallowance of purchase just because they are from sister concerns/ related parties, Memorandum of Undertaking not prepared and “why the job was entrusted to sister concerns” merely shows that the disallowance of purchase made by the Ld. A.O was on surmises and conjectures and without any support of any evidence. - AT

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