25 results for “bogus purchases”+ Section 251clear
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Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Hearing) Sl.
Section 68 comes into play where any sum is credited in account which is not explained by assessee and does, not apply when goods or services is purchased on credit & an entry is made creating the liability in the account of supplier. When the purchases & sales are not doubted, the outstanding creditors cannot, be added u/s 68. In this case