Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Estimation of profit - purchase from hawala operators - bogus purchases - CIT(A) estimated GP @ 17.5% on alleged bogus purchases as against 7.11% declared by the assessee - if GP is estimated to tune of 12.5% of the purchases from these alleged hawala operators which will cover any leakage of Revenue by way of VAT, commission etc. - AT
Estimation of profit - purchase from hawala operators - bogus purchases - CIT(A) estimated GP @ 17.5% on alleged bogus purchases as against 7.11% declared by the assessee - if GP is estimated to tune of 12.5% of the purchases from these alleged hawala operators which will cover any leakage of Revenue by way of VAT, commission etc. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
