Assessing Officer Cannot Deem Creditor Balances Fictitious Without Evidence; Must Acknowledge Purchases and Payments.

Assessing Officer Cannot Deem Creditor Balances Fictitious Without Evidence; Must Acknowledge Purchases and Payments. https://www.taxtmi.com/highlights?id=24879 When AO accepts purchases as well as payments made by assessee to the concerned parties, he cannot treat the outstanding closing balance of the concerned creditors as bogus on purely conjectures and surmises - AT en-us Wed, 23 Sep 2015 13:17:31 +0530 Wed, 23 Sep 2015 13:17:31 +0530 TaxTMI RSS Generator Assessing Officer Cannot Deem Creditor Balances Fictitious Without Evidence; Must Acknowledge Purchases and Payments. https://www.taxtmi.com/highlights?id=24879 When AO accepts purchases as well as payments made by assessee to the concerned parties, he cannot treat the outstanding closing balance of the concerned creditors as bogus on purely conjectures and surmises - AT Highlights Income Tax Wed, 23 Sep 2015 13:17:31 +0530 https://www.taxtmi.com/highlights?id=24879