Saturday, September 22, 2018

No sec. 69C additions just because notice sent to creditors received back if purchases were duly recorded

IT: Where AO made addition to assessee's income under sec. 69C in respect of amount payable to creditors towards purchases, in view of fact that said purchases were duly recorded in books of account and sales made against those purchases was not disputed, impugned addition was to be set aside

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