https://www.taxtmi.com/highlights?id=29710 Bogus purchase - Deduction u/s 80IB - even if regarded as bogus purchase, the same would stand to be disallowed u/s. 37(1), leading to an increase in the assessable profits of the eligible unit - had it not been so, the addition of income u/s. 69C, i.e., on account of expenditure not explained as to its source, the same would not be liable to be regarded as the profit of the eligible unit. - AT en-us Mon, 13 Jun 2016 13:15:34 +0530 Mon, 13 Jun 2016 13:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=29710 Bogus purchase - Deduction u/s 80IB - even if regarded as bogus purchase, the same would stand to be disallowed u/s. 37(1), leading to an increase in the assessable profits of the eligible unit - had it not been so, the addition of income u/s. 69C, i.e., on account of expenditure not explained as to its source, the same would not be liable to be regarded as the profit of the eligible unit. - AT Highlights Income Tax Mon, 13 Jun 2016 13:15:34 +0530 https://www.taxtmi.com/highlights?id=29710