https://www.taxtmi.com/caselaws?id=340024 Purchase invoices, sales tax registration details, audited accounts, VAT returns and stock records supported the assessee's purchases, and the books were not rejected or the sales and closing stock disturbed. Although the supplier was not traceable and the payments were made in cash, those facts did not justify treating the purchases as wholly bogus. The proper consequence was limited to the statutory disallowance attached to cash expenditure, so the addition for bogus purchases was not sustained in full and was restricted to section 40A(3). en-us Tue, 28 Feb 2017 00:00:00 +0530 Mon, 13 Mar 2017 20:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340024 Purchase invoices, sales tax registration details, audited accounts, VAT returns and stock records supported the assessee's purchases, and the books were not rejected or the sales and closing stock disturbed. Although the supplier was not traceable and the payments were made in cash, those facts did not justify treating the purchases as wholly bogus. The proper consequence was limited to the statutory disallowance attached to cash expenditure, so the addition for bogus purchases was not sustained in full and was restricted to section 40A(3). Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340024