Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Bogus purchases - profit @12.5% upheld - purchases through the grey market - reduction of gross profit already shown and offered to tax from profits earned by the assessee on bogus purchase transaction @12.5% is permissible.
Bogus purchases - profit @12.5% upheld - purchases through the grey market - reduction of gross profit already shown and offered to tax from profits earned by the assessee on bogus purchase transaction @12.5% is permissible.
Note: It is a system-generated summary and is for quick reference only.
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