2,567 results for “bogus purchases”+ Section 10clear
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Bench: Shri Prashant Maharishi & Shri K. N. Chary
section deals with taxation and computation of undisclosed income found during the course of search, which naturally cannot be the loss. We also have other reason for showing infirmities in those statements when we consider computation aspect. Assessee is undisputedly engaged in booking bogus purchases. For booking bogus purchases, assessee has to compensate other parties with commission for issuing