Verification of genuineness of transactions

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Full Text of the Document

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....ssessing Authority must keep in mind that mere production of statutory forms does not establish the genuineness of transactions and before granting exemption, corroborative evidences have to be weighed and meticulous scrutiny of books of accounts and other relevant documents has to be made. In case of large value transactions and in case of any doubt or defect in the statutory forms, the genuinene....