| Question And Answer | |
|---|---|
| Subject: | kanak Impex Bom H C |
| Category: | Income-Tax |
| Querist: | BS |
| Answered by: | Law Intern |
| Tags: | Bogus Purchases, PCIT v. Kanak Impex (India) Ltd, unexplained expenditure |
| Date: | May 19, 2025 |
can this case law be applied by AO to disallow all unverifiable purchases fully?
what is defense left ?
The judgement in PCIT v. Kanak Impex (India) Ltd (Bombay High Court) is wide ranging and hits out at all Bogus purchases where the assessee is unable to prove genuineness of purchases. A distinction, if any, will have to be made on the facts of each case.
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