https://www.taxtmi.com/caselaws?id=352995 The Tribunal confirmed the AO's additions treating certain purchases as bogus, directing a 15% addition to the total amount. The Tribunal upheld the rejection of the books of account by the AO under section 145(3) of the Income Tax Act, emphasizing deficiencies and unverifiable purchases. The Tribunal directed the AO to re-compute income applying a 5% profit rate on bogus purchases, verify additional VAT and interest paid by the assessee, and prevent double deductions. en-us Thu, 21 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352995 The Tribunal confirmed the AO's additions treating certain purchases as bogus, directing a 15% addition to the total amount. The Tribunal upheld the rejection of the books of account by the AO under section 145(3) of the Income Tax Act, emphasizing deficiencies and unverifiable purchases. The Tribunal directed the AO to re-compute income applying a 5% profit rate on bogus purchases, verify additional VAT and interest paid by the assessee, and prevent double deductions. Case-Laws Income Tax Thu, 21 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352995