Tribunal Rules Only Profit Element of Assessee's Purchases Taxable, No Substantial Question of Law Involved.

Tribunal Rules Only Profit Element of Assessee's Purchases Taxable, No Substantial Question of Law Involved. https://www.taxtmi.com/highlights?id=51800 Bogus purchases - estimation of income - When the Tribunal had concluded that the assessee did make the purchase, as a natural corollary not the entire amount covered by such purchase but the profit element embedded therein would be subject to tax. No substantial question of law en-us Sat, 15 Feb 2020 13:38:52 +0530 Sat, 15 Feb 2020 13:38:52 +0530 TaxTMI RSS Generator Tribunal Rules Only Profit Element of Assessee's Purchases Taxable, No Substantial Question of Law Involved. https://www.taxtmi.com/highlights?id=51800 Bogus purchases - estimation of income - When the Tribunal had concluded that the assessee did make the purchase, as a natural corollary not the entire amount covered by such purchase but the profit element embedded therein would be subject to tax. No substantial question of law Highlights Income Tax Sat, 15 Feb 2020 13:38:52 +0530 https://www.taxtmi.com/highlights?id=51800