Bombay HC Holds Time-Barred Liability Does Not Cease, Restricts Bogus Purchase Addition to 12.5%

Bombay High Court upholds 12.5% addition on bogus purchases and holds that a liability does not cease merely because it is barred by limitation under Section 41(1). The post Bombay HC Holds Time-Barred Liability Does Not Cease, Restricts Bogus Purchase Addition to 12.5% appeared first on TaxGuru .