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Bombay HC: Entire Purchase Cannot be Disallowed if Some of Them Found to be Bogus - (05 Feb 2020)

DIRECT TAXATION

Bombay High Court has held that the entire purchase cannot be disallowed even if it is a Bogus purchase. The Court further held that even if the purchases made from the parties in question are to be treated as bogus, it does not necessarily mean that the entire amount should be disallowed and that no benefit should be given to the Respondent-Assessee.

Tags : BOMBAY HIGH COURT   BOGUS PURCHASE  

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