Purchases can’t be treated as Bogus If Dept has not discarded Sales: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the genuineness of the purchases cannot be suspected if the Assessing Officer has not discarded the sales. The assessment against the assessee was re-opened by the Assessing Officer by making an addition of Rs.2,78,55,984/- as bogus purchases. On first appeal, the Commissioner […]

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