Non-appearance of supplier cannot be the sole basis to terms purchase as bogus

Advocate Akhilesh Kumar Sah Non-appearance of the supplier in absence of any other corroborate evidence cannot be sole basis to justify the stand of the Revenue that a transaction of purchase is bogus Additions to the income of an assessee while making assessment or reassessment treating purchases for the business as bogus one has remained common issue in many cases. Recently, in Beauty Tax (Earlier Florals India) vs. DCIT [ITA No.508/JP/2016, decided on 10.04.2017], a similar situation arose. Facts & Decision in Brief: During the course of assessment proceedings for A.Y 2008-09, the AO ...