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Court Emphasizes Assessee's Burden to Prove Genuineness in Bogus Transactions; Mere Book Entries Not Enough.
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....Bogus sale purchase transactions - providing accommodation entries - Though it is not the case of reopening but assessment, hence the higher burden lies on the assessee to prove genuineness of purchase and sales - merely because the purchases and sales have been shown in the books of accounts when they are shrouded with the non-genuineness does not help the assessee. - AT....