In one of my scrutiny assessment,assessee as around 4 lacs creditors which are not confirming say bogus (Purchase bills were fake) and likewise 3 lacs debtors (bogus) (here also sales bill was fake).
What will be addition 4 lacs or 7 lacs or 1 lacs.My contention with A.O.is that addition should be 1 lac (net of creditors & debtors)
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