No matter what, Purchases cannot be treated as Bogus if they are duly supported by bills and other evidences

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No matter what, Purchases cannot be treated as Bogus if they are duly supported by bills and other evidences

PCIT vs. Tejua Rohitkumar Kapadia (Supreme Court):-

Purchases cannot be treated as Bogus if
(a) they are duly supported by bills
(b) all payments are made by account payee cheques
 (c) the supplier has confirmed the transactions
(d) there is no evidence to show that the purchase consideration has come back to the assessee in cash
(e) the sales out of purchases have been accepted &
 (f) the supplier has accounted for the purchases made by the assessee and paid taxes thereon

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