Complete Guide on Bogus Purchases under the Income Tax Act

Complete Guide on Bogus Purchases under the Income Tax Act by Dr. Amit Kumar Gupta is an authoritative resource meticulously crafted to assist income tax professionals, auditors, legal practitioners, and taxpayers in navigating the complexities surrounding fraudulent purchase transactions. The book offers an in-depth exploration of the legal, financial, and procedural aspects of bogus purchases, providing practical insights and case studies to address and mitigate such issues effectively.

Key Features:

• The book delves into various facets of bogus transactions, including the roles of entry providers and beneficiaries, taxability of fraudulent purchases and sales, and the consequences of engaging in such activities.
• Through a thorough review of case laws and legal precedents, the book illustrates how courts address and adjudicate cases involving bogus transactions, offering readers a practical understanding of the legal landscape.
• discusses the proactive measures taken by the government and tax authorities to combat bogus transactions, providing insights into the enforcement mechanisms in place.
• The book covers essential procedural aspects such as surveys under the Income Tax Act, assessment/reassessment/reopening of cases under section 148, and strategies for cross-examination, equipping professionals with the tools needed to handle such cases effectively.

Whether you're a tax professional, auditor, legal practitioner, or student, this book serves as an indispensable guide to understanding and addressing the challenges posed by bogus purchases under the Income Tax Act.

Chapter 1 Introduction
Chapter 2 Nuisances of Bogus Transactions
Chapter 3 Role of Entry Providers
Chapter 4 Role of Beneficiaries
Chapter 5 Taxability of Bogus Purchases
Chapter 6 Taxability of Bogus Sales
Chapter 7 Consequences of Bogus Transactions
Chapter 8 Action plan by Government and Tax Department against Bogus Transactions
Chapter 9 Survey under Income Tax Act
Chapter 10 Assessment/Reassessment/Reopening of Case under section
Chapter 11 Some Leading Judgements on Bogus Purchases/ Sales
Chapter 12 Cross Examination