Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Bogus purchase - Though purchases were from bogus parties nevertheless purchases themselves were not bogus. - in the absence of the purchases, there could not be sales - If the AO's version is accepted then the gross profit works out at 83 per cent. which is unbelievable and unimaginary as sales cannot be the profits - AT
Bogus purchase - Though purchases were from bogus parties nevertheless purchases themselves were not bogus. - in the absence of the purchases, there could not be sales - If the AO's version is accepted then the gross profit works out at 83 per cent. which is unbelievable and unimaginary as sales cannot be the profits - AT
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