681 results for “bogus purchases”+ Section 36(1)(vii)clear
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The appeal of the revenue is dismissed
Bench: Shri Prashant Maharishi & Shri K. N. Chary
vii. He submitted that the profit and loss account seized during the course of search must be considered as income of the assessee. He submitted that that cash was received against the bogus purchases booked and such cash was disbursed for the various expenses, which are incurred by the assessee outside the audited books and are part of the consolidated