986 results for “bogus purchases”+ Unexplained Investmentclear
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Bench: Shri Prashant Maharishi & Shri K. N. Chary
bogus purchase bills and inflating its expenses was found. When questioned, it filed a letter explaining its stand. The assessee submitted that the a. Assessee along with the group concern does not have earned any income whatsoever over and above what is declared in the audited profit and loss account. b. During the course of search no unexplained assets