Works by Government Agencies would not Complete if Entire Purchases were held as Non-genuine: Bombay HC upholds  ITAT’s order on Bogus Purchases [Read Order]

Works by Government Agencies - Complete if Entire Purchases - Non-genuine - Bombay - HC - ITATs order on Bogus Purchases - TAXSCAN

In a recent ruling, a Division Bench of Bombay High Court while dismissing the appeal, upheld the order of the Income Tax Appellate Tribunal (ITAT) that the purchases from ten parties were bogus and sustaining that addition to the extent of 12.5% of the amount of the disputed purchases. The Appellant/assessee, Vishwaskthi Construction is a…

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