https://www.taxtmi.com/caselaws?id=336234 The Tribunal upheld the CIT(A)'s decision to estimate undisclosed profit at 12.5% on alleged bogus purchases, amounting to Rs. 14,18,097/-. It agreed that the profit element in these purchases needed computation. The Tribunal also supported the CIT(A)'s restriction of the addition under Section 69C to the profit element, rather than the entire amount. The Tribunal dismissed both appeals, finding the CIT(A)'s order well-reasoned and justified based on the evidence presented. en-us Wed, 14 Dec 2016 00:00:00 +0530 Mon, 08 Aug 2022 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336234 The Tribunal upheld the CIT(A)'s decision to estimate undisclosed profit at 12.5% on alleged bogus purchases, amounting to Rs. 14,18,097/-. It agreed that the profit element in these purchases needed computation. The Tribunal also supported the CIT(A)'s restriction of the addition under Section 69C to the profit element, rather than the entire amount. The Tribunal dismissed both appeals, finding the CIT(A)'s order well-reasoned and justified based on the evidence presented. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336234