Entire purchases can’t be disallowed, citing them as bogus if AO duly accepted sales made by assessee: ITAT

INCOME TAX : Where assessee’s claim of having made genuine purchases from parties was not proved, however, since sales of assessee company had been accepted by department, it could be safely concluded that assessee had purchased goods in question not from aforementioned parties but at a discounted value from open/grey market,INCOME TAX : Where assessee’s claim of having made genuine purchases from parties was not proved, however, since sales of assessee company had been accepted by department, it could be safely concluded that assessee had purchased goods in question not from aforementioned parties but at a discounted value from open/grey market,www.taxmann.com Latest Case LawsRead More

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