Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Bogus purchases - addition made towards entire bogus purchase - Assessee has literally wasted precious time of the AO by once again issuing notices and summons to the third parties and at the end of the proceedings, the assessee expressed inability to prove before the AO the genuineness of the transactions. Thus, both the AO and the CIT(A) have given clear cut finding that the assessee could not able to prove the purchases as genuine - AT
Bogus purchases - addition made towards entire bogus purchase - Assessee has literally wasted precious time of the AO by once again issuing notices and summons to the third parties and at the end of the proceedings, the assessee expressed inability to prove before the AO the genuineness of the transactions. Thus, both the AO and the CIT(A) have given clear cut finding that the assessee could not able to prove the purchases as genuine - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
