https://www.taxtmi.com/highlights?id=73343 Addition of non-genuine and merely accommodation entries - There could be several reasons for arranging bogus accommodation entries towards bogus purchases, which could be to suppress profits and evade taxes, or to arrange for the invoices at higher value to reflect purchases in the books of accounts etc. so on and so forth. - It will be fair that profit element embedded in the aforesaid purchase @12.5% be brought to tax - AT en-us Fri, 01 Dec 2023 10:40:01 +0530 Fri, 01 Dec 2023 18:56:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73343 Addition of non-genuine and merely accommodation entries - There could be several reasons for arranging bogus accommodation entries towards bogus purchases, which could be to suppress profits and evade taxes, or to arrange for the invoices at higher value to reflect purchases in the books of accounts etc. so on and so forth. - It will be fair that profit element embedded in the aforesaid purchase @12.5% be brought to tax - AT Highlights Income Tax Fri, 01 Dec 2023 10:40:01 +0530 https://www.taxtmi.com/highlights?id=73343