https://www.taxtmi.com/caselaws?id=347891 The Tribunal partially allowed the appeal, reducing the profit estimation from 17.50% to 12.50% for unproved purchases considered as "Bogus Purchases" for the Assessment Year 2010-11. The Assessing Officer's addition of &8377; 35,25,867/- based on information from the Sales Tax Department was challenged by the appellant. The Tribunal found the CIT(A)'s 17.50% profit estimation unjustified and directed a recalculated addition at 12.50% profit on the impugned purchases, adjusting the Gross Profit as per the CIT(A)'s directive. en-us Thu, 24 Aug 2017 00:00:00 +0530 Tue, 12 Sep 2017 07:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347891 The Tribunal partially allowed the appeal, reducing the profit estimation from 17.50% to 12.50% for unproved purchases considered as "Bogus Purchases" for the Assessment Year 2010-11. The Assessing Officer's addition of &8377; 35,25,867/- based on information from the Sales Tax Department was challenged by the appellant. The Tribunal found the CIT(A)'s 17.50% profit estimation unjustified and directed a recalculated addition at 12.50% profit on the impugned purchases, adjusting the Gross Profit as per the CIT(A)'s directive. Case-Laws Income Tax Thu, 24 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347891