Assessee Challenges Alleged Bogus Purchases; Asserts Finished Goods Must Have Raw Materials, Provides Stock Proof to Authorities.

Assessee Challenges Alleged Bogus Purchases; Asserts Finished Goods Must Have Raw Materials, Provides Stock Proof to Authorities. https://www.taxtmi.com/highlights?id=50203 Additions towards bogus purchases without raw material there cannot be any finished products. The assessee has filed stock details before the authorities which show that purchases for the disputed quantity were, in fact, made. - even if we accept the contention of the Revenue that the purchases were bogus, still the entire amount of purchases cannot be added en-us Thu, 14 Nov 2019 10:34:34 +0530 Thu, 14 Nov 2019 10:34:34 +0530 TaxTMI RSS Generator Assessee Challenges Alleged Bogus Purchases; Asserts Finished Goods Must Have Raw Materials, Provides Stock Proof to Authorities. https://www.taxtmi.com/highlights?id=50203 Additions towards bogus purchases without raw material there cannot be any finished products. The assessee has filed stock details before the authorities which show that purchases for the disputed quantity were, in fact, made. - even if we accept the contention of the Revenue that the purchases were bogus, still the entire amount of purchases cannot be added Highlights Income Tax Thu, 14 Nov 2019 10:34:34 +0530 https://www.taxtmi.com/highlights?id=50203