Bogus purchases - information that was received by the A.O from ...
Income Tax
August 21, 2021
Bogus purchases - information that was received by the A.O from the DGIT(Inv.) - now when the assessee had not only substantiated the authenticity of the purchases claimed to have been made from the aforementioned parties on the basis of supporting documentary evidence which had not been dislodged by the lower authorities, but had also got the confirmations from the respective parties alongwith their “affidavits”, therefore, there could have been no justification in the absence of any material proving to the contrary to doubt the genuineness of the purchases claimed by the assessee to have been made from the aforementioned parties. - Additions deleted - AT
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