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Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)
bogus and raw material supplier was non-existent, then the issue whether the purchases were made from some other parties, was irrelevant and the said payment was be treated as income from undisclosed sources. In the case of Kanak Impex (India) Ltd (supra), the Hon'ble Bombay High Court, also did not accept the submission of the assessee that