Day: March 21, 2017

Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales, only profit element can be taxed – ITAT

Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales of such purchases only profit element can be taxed – ITAT ABCAUS Case Law Citation: ABCAUS 1181 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: March, 2017 Brief Facts …