https://www.taxtmi.com/caselaws?id=275729 The Tribunal partially allowed the appeals against the CIT(A)'s orders confirming the disallowance of approximately 15% of bogus purchases made by the assessee for assessment years 2008-09 to 2011-12. The AO had initially disallowed 100% of the purchases as bogus, but the CIT(A) reduced it to 15%. The Tribunal upheld the 15% disallowance but estimated profits on the purchases at 3% due to evidence of the assessee's involvement in bogus purchase bills. The appeals were partly allowed for all assessment years involved. en-us Mon, 12 Feb 2018 00:00:00 +0530 Sun, 14 Oct 2018 18:42:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275729 The Tribunal partially allowed the appeals against the CIT(A)'s orders confirming the disallowance of approximately 15% of bogus purchases made by the assessee for assessment years 2008-09 to 2011-12. The AO had initially disallowed 100% of the purchases as bogus, but the CIT(A) reduced it to 15%. The Tribunal upheld the 15% disallowance but estimated profits on the purchases at 3% due to evidence of the assessee's involvement in bogus purchase bills. The appeals were partly allowed for all assessment years involved. Case-Laws Income Tax Mon, 12 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275729