56 results for “bogus purchases”+ Section 43(5)clear
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In the result, the appeal filed by the assessee is allowed for statistical purpose
Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta
5 : Here the Ld A/R of the assessee has prayed that in case the alleged purchases are treated as bogus, in such a situation, he prays that the entire purchase alleged as bogus amounting to Rs. 51.57 lakhs should not be disallowed but only the profit element embedded in such transactions be subjected to tax at a fair percentage