https://www.taxtmi.com/highlights?id=55649 Addition u/s 68 / 69C - unverified/non-existent /bogus sundry creditors - Assessee also cannot get scot free by not producing the sundry creditors and making purchases from parties who are not maintaining proper records or who have made adverse statements and, therefore, the assessee cannot be equated with another assessee who is maintaining records meticulously and not making purchase from grey market. - adoption of GP rate of 16% on such unsubstantiated purchases from the six creditors will meet the ends of justice. - AT en-us Thu, 26 Nov 2020 11:13:54 +0530 Thu, 26 Nov 2020 11:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55649 Addition u/s 68 / 69C - unverified/non-existent /bogus sundry creditors - Assessee also cannot get scot free by not producing the sundry creditors and making purchases from parties who are not maintaining proper records or who have made adverse statements and, therefore, the assessee cannot be equated with another assessee who is maintaining records meticulously and not making purchase from grey market. - adoption of GP rate of 16% on such unsubstantiated purchases from the six creditors will meet the ends of justice. - AT Highlights Income Tax Thu, 26 Nov 2020 11:13:54 +0530 https://www.taxtmi.com/highlights?id=55649