SC dismissed SLP as purchases duly supported by vouchers and bank transactions couldn't be termed as bogus

SC dismissed SLP as purchases duly supported by vouchers and bank transactions couldn't be termed as bogus

June 28, 2018
IT: Where purchases made by assessee-trader were duly supported by bills and payments were made by account payee cheque, seller also confirmed transaction and there was no evidence to show that amount was recycled back to assessee, Assessing Officer was not justified in treating said purchases as bogus under section 69C: SLP dismissed

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