22 results for “bogus purchases”+ Penaltyclear
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Bench: Shri Manomohan Das & Shri Rakesh Mishra
bogus creditors and if the purchases are also treated as bogus/non-genuine then either the details and nature of the purchases which are treated as bogus/non-genuine should have been identified or the books of account should have been rejected and profit should have been estimated. The Ld. AO has also not made any comparative study as to what is the normal