Court Limits Disallowance of Consumable Goods Purchases to 15% Despite Decrease in Cotton Use and Unrejected Accounts.

Court Limits Disallowance of Consumable Goods Purchases to 15% Despite Decrease in Cotton Use and Unrejected Accounts. https://www.taxtmi.com/highlights?id=25852 Disallowance of purchase of consumable goods, i.e., cotton, gauze and bandage, etc. - ingenuine and unverifiable purchases - the books of account being not rejected and consumption of cotton having comparatively decreased - AO directed to restrict the disallowance to 15 per cent. of purchases- AT en-us Tue, 10 Nov 2015 13:08:30 +0530 Tue, 10 Nov 2015 13:08:30 +0530 TaxTMI RSS Generator Court Limits Disallowance of Consumable Goods Purchases to 15% Despite Decrease in Cotton Use and Unrejected Accounts. https://www.taxtmi.com/highlights?id=25852 Disallowance of purchase of consumable goods, i.e., cotton, gauze and bandage, etc. - ingenuine and unverifiable purchases - the books of account being not rejected and consumption of cotton having comparatively decreased - AO directed to restrict the disallowance to 15 per cent. of purchases- AT Highlights Income Tax Tue, 10 Nov 2015 13:08:30 +0530 https://www.taxtmi.com/highlights?id=25852