Bogus Purchase Disallowances Must Be Restricted to Gross Profit Ratio If Books of Account Are Accepted
Bogus Purchase Disallowances Must Be Restricted to Gross Profit Ratio If Books of Account Are Accepted Issue Whether the Assessing Officer (AO) can disallow the entire amount of alleged bogus purchases when the overall books of account, sales figures, closing stock, and quantitative details have been accepted without invoking Section 145(3) to reject the accounts.… Read More »