In the result, the appeal of the assessee is allowed
Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad
purchases and allowability of the same under the provisions of the Income Tax Act. The chances of such purchases/expenses being bogus is high and the amount may be substantially higher than the credit balances admitted by the assessee to be nonexistent and offered for taxation. This lack of enquiry makes the assessment order erroneous and prejudicial to the interest