https://www.taxtmi.com/caselaws?id=429126 Books of account were found unreliable because of deficient purchase and sales records, so rejection under section 145(3) was sustained. The estimated commission addition on alleged bogus sales was sent back for fresh verification because the additional confirmations and related material required testing for authenticity and basis of estimation. The Chapter VIA deduction was disallowed for lack of supporting evidence. Additions relating to unsecured loans and share capital/share premium under section 68 were remanded for fresh examination of identity, creditworthiness, genuineness, and third-party evidence. en-us Wed, 28 Sep 2022 00:00:00 +0530 Tue, 18 Oct 2022 11:51:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429126 Books of account were found unreliable because of deficient purchase and sales records, so rejection under section 145(3) was sustained. The estimated commission addition on alleged bogus sales was sent back for fresh verification because the additional confirmations and related material required testing for authenticity and basis of estimation. The Chapter VIA deduction was disallowed for lack of supporting evidence. Additions relating to unsecured loans and share capital/share premium under section 68 were remanded for fresh examination of identity, creditworthiness, genuineness, and third-party evidence. Case-Laws Income Tax Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429126