Court Applies 12.5% Net Profit Rate on Bogus Purchases Linked to Hawala Operators u/s 69C of Income Tax Act.

Court Applies 12.5% Net Profit Rate on Bogus Purchases Linked to Hawala Operators u/s 69C of Income Tax Act. https://www.taxtmi.com/highlights?id=36014 Bogus purchases - based on of list of hawala operators published by Maharashtra Sales-tax Department relied upon - addition u/s 69C - a reasonable net profit of 12.5% on total bogus purchases would be sufficient to meet the ends of justice en-us Tue, 22 Aug 2017 07:27:38 +0530 Tue, 22 Aug 2017 07:27:38 +0530 TaxTMI RSS Generator Court Applies 12.5% Net Profit Rate on Bogus Purchases Linked to Hawala Operators u/s 69C of Income Tax Act. https://www.taxtmi.com/highlights?id=36014 Bogus purchases - based on of list of hawala operators published by Maharashtra Sales-tax Department relied upon - addition u/s 69C - a reasonable net profit of 12.5% on total bogus purchases would be sufficient to meet the ends of justice Highlights Income Tax Tue, 22 Aug 2017 07:27:38 +0530 https://www.taxtmi.com/highlights?id=36014