Gujarat HC reviews IT assessment, questions 25% addition on alleged bogus purchases.

The Gujarat HC admitted the appeal for consideration regarding alleged bogus purchases in income tax assessment, questioning the justification of retaining the addition of 25% of total purchases amounting to Rs. 73,23,322 out of Rs. 2,92,93,288 by the Income-tax Appellate Tribunal.

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The Gujarat High Court heard an appeal regarding alleged bogus purchases in income tax assessment. The main question was whether the Income-tax Appellate Tribunal was justified in retaining the addition of 25% of total purchases amounting to Rs. 73,23,322 out of Rs. 2,92,93,288. The Court admitted the appeal for consideration.

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