CIT (A) Upholds AO's Decision: 10% of Purchases Deemed Bogus Despite Payment Evidence; Bills and Vouchers Insufficient.

CIT (A) Upholds AO's Decision: 10% of Purchases Deemed Bogus Despite Payment Evidence; Bills and Vouchers Insufficient. https://www.taxtmi.com/highlights?id=54805 Bogus purchases - AO estimated 10% of the bogus purchase - CIT (A) enhanced the addition - producing the bills and vouchers and evidencing the payment made through cheque alone will not establish that the transactions are genuine - Additions of 10% made by AO confirmed. - AT en-us Thu, 17 Sep 2020 15:42:06 +0530 Thu, 17 Sep 2020 15:42:06 +0530 TaxTMI RSS Generator CIT (A) Upholds AO's Decision: 10% of Purchases Deemed Bogus Despite Payment Evidence; Bills and Vouchers Insufficient. https://www.taxtmi.com/highlights?id=54805 Bogus purchases - AO estimated 10% of the bogus purchase - CIT (A) enhanced the addition - producing the bills and vouchers and evidencing the payment made through cheque alone will not establish that the transactions are genuine - Additions of 10% made by AO confirmed. - AT Highlights Income Tax Thu, 17 Sep 2020 15:42:06 +0530 https://www.taxtmi.com/highlights?id=54805