Bogus purchases - assessee has shown purchases from A but ...
Income Tax
September 6, 2022
Bogus purchases - assessee has shown purchases from A but actually procured the material from B. In this exercise, the assessee might have saved Excise Duty etc. - If that factor has been proved demonstrating the complete details of purchases as well as sales, then 100% of the purchases by terming it as bogus could not be added. In the absence of these details, additions confirmed - AT
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