Income Tax - Disallowance of paddy purchase - purchases from Societies...

Income Tax

Disallowance of paddy purchase - purchases from Societies and Samathies - A bogus purchase implies no purchase, while verification w.r.t. s. 40A(3) necessarily implies a seller and a purchaser, i.e., a payer and payee, both of whom coalesce into one in case of a bogus claim. - AT

View Source