https://www.taxtmi.com/highlights?id=42197 Nature and genuineness of purchase - AO directged to estimate 30% profit on alleged bogus purchase of capital goods and the balance amount shall be treated as purchase of capital assets and accordingly, depreciation shall be allowed at the prescribed rates on capitalized portion. en-us Tue, 23 Oct 2018 06:52:32 +0530 Tue, 23 Oct 2018 06:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=42197 Nature and genuineness of purchase - AO directged to estimate 30% profit on alleged bogus purchase of capital goods and the balance amount shall be treated as purchase of capital assets and accordingly, depreciation shall be allowed at the prescribed rates on capitalized portion. Highlights Income Tax Tue, 23 Oct 2018 06:52:32 +0530 https://www.taxtmi.com/highlights?id=42197